Podcast
Questions and Answers
True or false: Accounting can be viewed as an information system which has its input processing methods and output.
True or false: Accounting can be viewed as an information system which has its input processing methods and output.
True (A)
True or false: There is no difference between bookkeeping and accounting, both are the same.
True or false: There is no difference between bookkeeping and accounting, both are the same.
False (B)
True or false: Management Accounting covers the preparation and interpretation of financial statements and communication to the users of accounts.
True or false: Management Accounting covers the preparation and interpretation of financial statements and communication to the users of accounts.
False (B)
True or false: Financial accounting is concerned with internal reporting to the managers of a business unit.
True or false: Financial accounting is concerned with internal reporting to the managers of a business unit.
True or false: Book-keeping is the recording phase while accounting is concerned with the summarizing phase of an accounting system.
True or false: Book-keeping is the recording phase while accounting is concerned with the summarizing phase of an accounting system.
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