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Questions and Answers
Which branch of accounting deals with the preparation of financial statements?
Which branch of accounting deals with the preparation of financial statements?
- Managerial accounting
- Cost accounting
- Financial reporting (correct)
- Tax accounting
What do financial statements provide information about?
What do financial statements provide information about?
- Employee productivity
- Customer satisfaction
- Financial performance and financial position (correct)
- Sales performance
What is the main purpose of financial reporting?
What is the main purpose of financial reporting?
- To monitor employee performance
- To provide information to external users (correct)
- To calculate taxes
- To provide information to internal users
What is the key driver of financial reporting?
What is the key driver of financial reporting?
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What is the separate business entity concept that underpins financial reporting?
What is the separate business entity concept that underpins financial reporting?
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