Accounting Principles Quiz
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Questions and Answers

What are the main stakeholders to whom accounting information is conveyed?

investors, creditors, management, and regulators

What are the different fields into which accounting can be divided?

financial accounting, management accounting, tax accounting, and cost accounting

What is the focus of financial accounting?

reporting of an organization's financial information to external users

What is the focus of management accounting?

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

What are practitioners of accounting known as?

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

What is the purpose of accounting?

<p>The purpose of accounting is to process information about economic entities and convey this information to stakeholders.</p> Signup and view all the answers

What are the different fields of accounting?

<p>The different fields of accounting include financial accounting, management accounting, tax accounting, and cost accounting.</p> Signup and view all the answers

Who are the stakeholders that accounting conveys information to?

<p>Accounting conveys information to stakeholders such as investors, creditors, management, and regulators.</p> Signup and view all the answers

What is the focus of financial accounting?

<p>Financial accounting focuses on reporting an organization's financial information to external users.</p> Signup and view all the answers

What is the focus of management accounting?

<p>Management accounting focuses on measuring, analyzing, and reporting information for internal use by management.</p> Signup and view all the answers

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