Accounting Principles Quiz
10 Questions
0 Views

Choose a study mode

Play Quiz
Study Flashcards
Spaced Repetition
Chat to lesson

Podcast

Play an AI-generated podcast conversation about this lesson

Questions and Answers

Which term is often used interchangeably with 'accounting' in the text?

  • Stakeholders
  • Financial reporting (correct)
  • Economic entities
  • Accountants

    • Which field of accounting focuses on the measurement, analysis, and reporting of an organization's financial information to external users?

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

    • What is the primary purpose of accounting?

  • To measure economic entities
  • To process non-financial information
  • To communicate financial information (correct)
  • To manage economic activities

    • What is another term for accountancy?

    <p>Financial reporting</p> Signup and view all the answers

    What are practitioners of accounting called?

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

    Which term is used interchangeably with 'management accounting' in the text?

    <p>Managerial accounting</p> Signup and view all the answers

    What is the primary purpose of management accounting?

    <p>To assist in decision-making and control functions</p> Signup and view all the answers

    What is the process of identifying, analyzing, interpreting, and communicating information to managers in order to achieve business goals called?

    <p>Management accounting</p> Signup and view all the answers

    What type of information does management accounting provide to managers?

    <p>Both financial and non-financial information</p> Signup and view all the answers

    According to the Institute of Management Accountants (IMA), what is management accounting?

    <p>A process of providing decision-making information to managers</p> Signup and view all the answers

    More Like This

    Use Quizgecko on...
    Browser
    Open
    Browser
    Browser