How to Grant 'View Only' Bank Account Access to Your Accountant
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Questions and Answers

What is the most common practice when it comes to granting bank account access to accountants?

  • Granting access to move money
  • Granting 'View Only' access (correct)
  • Granting full transactional access
  • Granting access to make transfers and pay bills
  • What is emphasized as the cornerstones of success in the relationship with the accountant?

  • Secrecy and privacy
  • Control and authority
  • Trust and transparency (correct)
  • Unilateral decision-making
  • What does 'View Only' access allow the accountant to do with the bank account?

  • Pay bills and move money
  • Make transactions and transfers
  • Access personal financial data
  • See statements and check images (correct)
  • What is the best way for accountants to gather accurate information about expenses, income, and cash flow?

    <p>Looking at bank statements</p> Signup and view all the answers

    Which action demonstrates the significance placed on data privacy by Fusion CPA?

    <p>Taking an oath to honor data privacy</p> Signup and view all the answers

    What is the main focus of financial accounting?

    <p>Preparation of financial statements for external users of information</p> Signup and view all the answers

    What is the primary purpose of management accounting?

    <p>Providing information for internal use by management</p> Signup and view all the answers

    Which field of accounting focuses on the measurement and reporting of information for internal use by management?

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

    What is the most common system of bookkeeping used for recording financial transactions?

    <p>Double-entry bookkeeping</p> Signup and view all the answers

    What is the primary purpose of accounting information systems?

    <p>Supporting accounting functions and related activities</p> Signup and view all the answers

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