5 Questions
What is the main purpose of accounting?
The main purpose of accounting is to process information about economic entities and convey this information to stakeholders such as investors, creditors, management, and regulators.
What are the different fields in which accounting can be divided?
Accounting can be divided into several fields including financial accounting, management accounting, tax accounting, and cost accounting.
What is the focus of financial accounting?
Financial accounting focuses on the reporting of an organization's financial information, including the preparation of financial statements, to external users of the information such as investors, regulators, and suppliers.
What is the focus of management accounting?
Management accounting focuses on the measurement, analysis, and reporting of information for internal use by management.
What are practitioners of accounting known as?
Practitioners of accounting are known as accountants.
Test your knowledge of accounting principles, financial statements, and terminology with this accounting quiz. Challenge yourself with questions on balance sheets, income statements, debits and credits, and more. Whether you're a student or a professional, this quiz will help you sharpen your accounting skills.
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