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Accounting Principles and Practices Quiz
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Accounting Principles and Practices Quiz

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Questions and Answers

Which field of accounting focuses on reporting financial information to external users?

  • Tax accounting
  • Cost accounting
  • Management accounting
  • Financial accounting (correct)

    • What is the primary purpose of accounting?

  • To convey information to stakeholders
  • To measure the results of an organization's economic activities (correct)
  • To process information about economic entities
  • To prepare financial statements

    • What is the term used for practitioners of accounting?

  • Auditors
  • Accountants (correct)
  • Financial analysts
  • Economists

    • What do practitioners of accounting refer to as synonyms?

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

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

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

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