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Accounting Principles and Practices Quiz
5 Questions
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Accounting Principles and Practices Quiz

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@HonorableChrysoberyl

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Questions and Answers

What is the main focus of financial accounting?

  • Reporting financial information to external users (correct)
  • Conveying information to a variety of stakeholders
  • Processing information about economic entities
  • Measuring and analyzing information for internal use by management
  • Which field of accounting is concerned with the measurement, analysis, and reporting of information for internal use by management?

  • Cost accounting
  • Management accounting (correct)
  • Financial accounting
  • Tax accounting
  • What are practitioners of accounting commonly known as?

  • Auditors
  • Accountants (correct)
  • Economists
  • Corporations
  • What is another term often used as a synonym for 'accounting'?

    <p>Financial reporting</p> Signup and view all the answers

    Which type of accounting focuses on the recording of financial transactions and the preparation of financial statements for external users?

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

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