Accounting Principles and Practices Quiz

Accounting is the processing of information about economic entities, such as businesses and corporations, and measures the results of an organization's economic activities.

Stakeholders include investors, creditors, management, and regulators.

Accounting can be divided into several fields including financial accounting, management accounting, tax accounting, and cost accounting.

<p>Financial accounting focuses on the reporting of an organization's financial information, including the preparation of financial statements, to external users of the information.</p> Signup and view all the answers

<p>Management accounting focuses on the measurement, analysis, and reporting of information for internal use by management.</p> Signup and view all the answers