3 Questions
What is the primary purpose of accounting?
To record financial transactions
What is the purpose of double-entry accounting?
To prevent errors in recording transactions
Which financial statement provides information about a company's revenues and expenses?
Income statement
Test your knowledge of accounting fundamentals with questions about the primary purpose of accounting, financial statements, and double-entry accounting.
Make Your Own Quizzes and Flashcards
Convert your notes into interactive study material.
Get started for free
