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Importance of Accounting in Daily Life
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Importance of Accounting in Daily Life

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@HarmoniousHorseChestnut

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Questions and Answers

What is the common misconception about accounting?

  • It is only for architecture professionals
  • It is only for engineers
  • It is only for business professionals (correct)
  • It is only for medical professionals

    • What is accounting often referred to as?

  • The language of business (correct)
  • The language of medicine
  • The language of law
  • The language of architecture

    • Why is accounting considered a universal existence?

  • Because it is only used in architecture
  • Because it is only used in engineering
  • Because it is only used in business
  • Because it is used in almost every aspect of life (correct)

    • What is the importance of learning accounting in today's business world?

    <p>It is a survival skill</p> Signup and view all the answers

    What is the role of accounting in decision-making?

    <p>It provides a way to make informed decisions</p> Signup and view all the answers

    What is the purpose of accounting in business?

    <p>To set goals, measure results and evaluate performance</p> Signup and view all the answers

    What is the primary reason why the accountancy profession is least known and unpopular?

    <p>It is handled with much needed confidentiality.</p> Signup and view all the answers

    What is the approximate number of registered Certified Public Accountants in the Philippines as of October 2015?

    <p>Approximately 162,000</p> Signup and view all the answers

    What is the main reason why accountancy is considered the most feared and dreaded profession?

    <p>It has the highest mortality rate among courses that require board examinations.</p> Signup and view all the answers

    Who is the holder of the first CPA Certificate or PRC-CPA Certificate No. 001?

    <p>Mr. Armand Fabella</p> Signup and view all the answers

    What is the significance of the year 1923 in the accountancy profession?

    <p>It is the year when the accountancy profession emerged.</p> Signup and view all the answers

    What is the current trend in the accountancy profession in the Philippines?

    <p>It is experiencing tremendous growth and development.</p> Signup and view all the answers

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