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Accounting Principles and Practices Quiz
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Accounting Principles and Practices Quiz

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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
  • Processing information about economic entities
  • Conveying information to a variety of stakeholders

    • Which field of accounting focuses on information for internal use by management?

  • Tax accounting
  • Management accounting (correct)
  • Cost accounting
  • Financial accounting

    • What is another term often used interchangeably with 'accounting'?

  • Finance
  • Economics
  • Auditing
  • Bookkeeping (correct)

    • What is the primary purpose of accounting?

    <p>Conveying information to stakeholders</p> Signup and view all the answers

    What do practitioners of accounting refer to as?

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

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