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Questions and Answers
Which field of accounting focuses on the reporting of an organization's financial information to external users?
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?
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?
What are practitioners of accounting known as?
- Auditors
- Accountants (correct)
- Regulators
- Economists
Which terms are often used as synonyms for accounting?
Which terms are often used as synonyms for accounting?
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What does management accounting focus on?
What does management accounting focus on?
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