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Questions and Answers
What is the main purpose of accounting?
What is the main purpose of accounting?
- To measure the results of an organization's economic activities (correct)
- To convey information to stakeholders
- To prepare financial statements
- To process information about economic entities
Which field of accounting focuses on reporting financial information to external users?
Which field of accounting focuses on reporting financial information to external users?
- Tax accounting
- Cost accounting
- Management accounting
- Financial accounting (correct)
What are practitioners of accounting known as?
What are practitioners of accounting known as?
- Financial analysts
- Auditors
- Economists
- Accountants (correct)
Which term is often used interchangeably with 'accounting'?
Which term is often used interchangeably with 'accounting'?
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What is the primary focus of management accounting?
What is the primary focus of management accounting?
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