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Questions and Answers
Which organization defines the meaning of 'Accounting' as 'an Art of Recording, Classifying & Summerizing, in a significant manner & in terms of Money Transactions & Events, which are in part at least of Financial character & interpreting result thereof'?
Which organization defines the meaning of 'Accounting' as 'an Art of Recording, Classifying & Summerizing, in a significant manner & in terms of Money Transactions & Events, which are in part at least of Financial character & interpreting result thereof'?
- American Standards Council
- American Institute of Certified Public Accountant (correct)
- AICPA
- ASC
What is the function of Accounting?
What is the function of Accounting?
- To provide qualitative information of financial nature of economic entities
- To provide Quantitative information of financial nature of economic entities
- To record, classify, and summarize financial transactions (correct)
- To interpret the result of financial transactions
What is the name of the organization that defines the meaning of 'Accounting' as a service activity that provides quantitative information of financial nature of economic entities?
What is the name of the organization that defines the meaning of 'Accounting' as a service activity that provides quantitative information of financial nature of economic entities?
- ASC
- AICPA
- American Institute of Certified Public Accountant
- American Standards Council (correct)
What is the primary focus of Accounting?
What is the primary focus of Accounting?
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Which organization's definition of 'Accounting' emphasizes on interpreting the result of financial transactions?
Which organization's definition of 'Accounting' emphasizes on interpreting the result of financial transactions?
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