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Accounting Principles Quiz
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Accounting Principles Quiz

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Questions and Answers

Which term is often used as a synonym for accounting?

  • Economics
  • Management
  • Reporting (correct)
  • Finance

    • What is the main focus of financial accounting?

  • Reporting of financial transactions
  • Measurement and analysis of information
  • Preparation of financial statements (correct)
  • Internal use by management

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

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

    • What is the purpose of accounting?

    <p>To process information about economic entities</p> Signup and view all the answers

    What are practitioners of accounting known as?

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

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