Accounting Principles and Concepts Quiz
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Questions and Answers

Which term is often used interchangeably with 'accounting'?

  • Regulation
  • Financial reporting (correct)
  • Management
  • Economics
  • What is the main focus of financial accounting?

  • Measurement, analysis, and reporting of information for internal use by management
  • Processing of information about economic entities
  • Recording of financial transactions
  • Preparation of financial statements for external users (correct)
  • Which field of accounting focuses on the measurement, analysis, and reporting of information for internal use by management?

  • Tax accounting
  • Cost accounting
  • Management accounting (correct)
  • Financial accounting
  • What do practitioners of accounting refer to themselves as?

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

    Which term refers to the processing of information about economic entities?

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

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