1. Accounting in Business.

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The majority of accounting opportunities are in public accounting.

False

Certified public accountant (CPA) is a designation for accounting specialists.

True

Ethics are not important in accounting.

False

GAAP aims to make accounting information irrelevant and unreliable.

False Signup and view all the answers

Two main groups establish GAAP.

True Signup and view all the answers

Financial accounting is one of the four broad areas of opportunities in accounting.

True Signup and view all the answers

The majority of accounting opportunities are in government agencies.

False Signup and view all the answers

Certified public accountant (CPA) is a designation for accounting specialists in government agencies.

False Signup and view all the answers

GAAP aims to make accounting information relevant and comparable.

True Signup and view all the answers

Ethics are unimportant in successful organizations.

False Signup and view all the answers

What is the primary focus of financial accounting?

To make accounting information relevant, reliable and comparable Signup and view all the answers

What is the importance of ethical behavior in accounting?

It is important in all successful organizations Signup and view all the answers

What is the purpose of GAAP?

To make accounting information relevant, reliable and comparable Signup and view all the answers

What is the primary area of opportunities in accounting?

Private accounting Signup and view all the answers

What is the designation for accounting specialists in personal financial planning?

PFS Signup and view all the answers

What is the purpose of ethics in accounting?

To distinguish right from wrong Signup and view all the answers

What is the role of the AICPA and IMA in accounting?

To set up ethical codes of conduct Signup and view all the answers

What is the importance of trust in accounting information?

Users must be able to trust accounting information Signup and view all the answers

What is the purpose of certificates in accounting?

To denote the professional standing of accounting specialists Signup and view all the answers

What is the scope of accounting opportunities?

Financial accounting, managerial accounting, taxation, and accounting-related careers Signup and view all the answers

1. Accounting in Business.

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Questions and Answers

The majority of accounting opportunities are in public accounting.

Certified public accountant (CPA) is a designation for accounting specialists.

Ethics are not important in accounting.

GAAP aims to make accounting information irrelevant and unreliable.

Two main groups establish GAAP.

Financial accounting is one of the four broad areas of opportunities in accounting.

The majority of accounting opportunities are in government agencies.

Certified public accountant (CPA) is a designation for accounting specialists in government agencies.

GAAP aims to make accounting information relevant and comparable.

Ethics are unimportant in successful organizations.

What is the primary focus of financial accounting?

What is the importance of ethical behavior in accounting?

What is the purpose of GAAP?

What is the primary area of opportunities in accounting?

What is the designation for accounting specialists in personal financial planning?

What is the purpose of ethics in accounting?

What is the role of the AICPA and IMA in accounting?

What is the importance of trust in accounting information?

What is the purpose of certificates in accounting?

What is the scope of accounting opportunities?

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