Accounting Principles and Concepts Quiz

The different fields of accounting include financial accounting, management accounting, tax accounting, and cost accounting.

The focus of financial accounting is on the reporting of an organization's financial information to external users, such as investors and regulators.

The purpose of accounting is to process information about economic entities and convey this information to stakeholders.

<p>The focus of management accounting is on the measurement, analysis, and reporting of information for internal use by management.</p> Signup and view all the answers

<p>The role of accountants is to practice accounting and provide financial information to stakeholders.</p> Signup and view all the answers