Accounting Principles and Practices Quiz
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Questions and Answers

Which type of accounting focuses on the reporting of an organization's financial information to external users?

  • Cost accounting
  • Tax accounting
  • Management accounting
  • Financial accounting (correct)
  • What is another term often used interchangeably with 'accounting'?

  • Economic entities
  • Stakeholders
  • Corporations
  • Financial reporting (correct)
  • What is the primary focus of management accounting?

  • Measurement, analysis, and reporting of information for internal use by management (correct)
  • Recording of financial transactions
  • Conveying financial information to investors and creditors
  • Preparation of financial statements for external users
  • What do practitioners of accounting refer to as?

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

    In addition to financial accounting, management accounting, and tax accounting, what is another field of accounting mentioned in the text?

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

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