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Accounting Principles Quiz

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Questions and Answers

Which field of accounting focuses on the reporting of an organization's financial information to external users?

Management accounting

Cost accounting

Tax accounting

Financial accounting (correct)

What is the main purpose of accounting?

To prepare financial statements for external users

To record financial transactions

To measure, analyze, and report information for internal use by management

To process information about economic entities (correct)

What are practitioners of accounting known as?

Auditors

Accountants (correct)

Regulators

Economists

Which terms are often used as synonyms for accounting?

<p>Accounting and financial reporting (A)</p> Signup and view all the answers

What does management accounting focus on?

<p>The measurement, analysis, and reporting of information for internal use by management (A)</p> Signup and view all the answers

Accounting Principles Quiz

Choose a study mode

Podcast

Questions and Answers

Which field of accounting focuses on the reporting of an organization's financial information to external users?

What is the main purpose of accounting?

What are practitioners of accounting known as?

Which terms are often used as synonyms for accounting?

What does management accounting focus on?

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