Accounting Knowledge Assessment
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Questions and Answers

Which term is often used interchangeably with 'accounting'?

  • Financial Reporting (correct)
  • Finance
  • Management
  • Economics
  • What is the focus of financial accounting?

  • Preparation of financial statements (correct)
  • Measurement, analysis, and report
  • External users of information
  • Communication of financial information
  • What are the main fields of accounting?

  • Financial accounting, cost accounting, economics, and finance
  • Financial accounting, economics, management, and finance
  • Financial accounting, management accounting, tax accounting, and cost accounting (correct)
  • Financial accounting, auditing, tax accounting, and management accounting
  • Who are the stakeholders of accounting information?

    <p>Investors, regulators, suppliers, and employees</p> Signup and view all the answers

    What is the purpose of management accounting?

    <p>Internal decision-making and planning</p> Signup and view all the answers

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