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 in accounting include investors, creditors, management, and regulators.

The main fields of accounting include financial accounting, management accounting, tax accounting, and cost accounting.

<p>Financial accounting focuses on reporting an organization's financial information to external users, such as investors, regulators, and suppliers.</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