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Accounting Knowledge Quiz
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Accounting Knowledge Quiz

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@UnforgettableRainbowObsidian

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Questions and Answers

Which term is often used interchangeably with accounting?

  • Finance
  • Management
  • Reporting (correct)
  • Economics

    • What is the main focus of financial accounting?

  • Internal use by management
  • Preparation of financial statements (correct)
  • Measurement and analysis of information
  • Recording financial transactions

    • What is the purpose of management accounting?

  • Preparation of financial statements
  • Recording financial transactions
  • Reporting financial information to external users
  • Measurement and analysis of information (correct)

    • What are practitioners of accounting known as?

    <p>Accountants</p> Signup and view all the answers

    Which field of accounting focuses on the measurement and reporting of information for internal use by management?

    <p>Management accounting</p> Signup and view all the answers

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