Accounting Fundamentals Quiz

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Which one of the following is NOT a branch of accounting?

Tax accounting (correct)

Management accounting

Financial accounting

Cost accounting

What is the purpose of accounting?

To make economic decisions

To identify, record, and communicate economic information (correct)

To recognize accountable events

To analyze business transactions

What is the function of accounting in a business?

To record accountable events

To provide economic information (correct)

To analyze business transactions

To identify accountable events

What is the difference between external and internal users of accounting information?

<p>External users are individuals outside the organization, while internal users are individuals within the organization</p> Signup and view all the answers

What are the forms of business organization?

<p>Sole proprietorship, partnership, and corporation</p> Signup and view all the answers

Accounting Fundamentals Quiz

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Questions and Answers

Which one of the following is NOT a branch of accounting?

What is the purpose of accounting?

What is the function of accounting in a business?

What is the difference between external and internal users of accounting information?

What are the forms of business organization?

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