Financial Accounting Fundamentals Quiz

To forecast future market trends

To calculate employee salaries and benefits

To manage internal operations of a company

To provide information about the financial performance and position of a company to external parties (correct)

Conservatism principle

Cost principle (correct)

Revenue recognition principle

Matching principle

To report the company's financial performance over a specific period of time (correct)

To provide an overview of the company's shareholders

To disclose all the company's business transactions

To list all the company's assets and liabilities