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Accounting Principles and Terminology Quiz
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Accounting Principles and Terminology Quiz

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@AdaptableAmethyst

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Questions and Answers

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

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

    • What is the primary focus of financial accounting?

  • Recording financial transactions for summaries
  • Preparing financial statements for external users (correct)
  • Conveying information to a variety of stakeholders
  • Measuring and analyzing information for internal use

    • What are practitioners of accounting known as?

  • Analysts
  • Auditors
  • Accountants (correct)
  • Economists

    • What does accounting measure?

    <p>Results of an organization's economic activities</p> Signup and view all the answers

    What term is often used as a synonym for 'accounting'?

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

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