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Accounting Principles and Practices Quiz

5 Questions

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Accounting Principles and Practices Quiz

Created by

@LuxuryBeauty

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Questions and Answers

What is the main focus of financial accounting?

Reporting financial information to external users (correct)

Measuring and analyzing information for internal use

Conveying information to stakeholders

Processing information about economic entities

What is the primary role of practitioners of accounting?

Measuring, analyzing, and reporting internal information

Conveying information to stakeholders

Processing information about economic entities

Reporting financial information to external users (correct)

Which field of accounting focuses on internal use by management?

Management accounting (correct)

Cost accounting

Financial accounting

Tax accounting

What does accounting measure?

<p>Results of economic activities</p> Signup and view all the answers

What are the terms 'accounting' and 'financial reporting' often used as?

<p>Synonyms</p> Signup and view all the answers

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