Introductory Accounting Concepts Quiz

Assessing the financial performance of the company

Ensuring compliance with tax regulations

Providing information for internal decision-making (correct)

Communicating financial information to external stakeholders

Managing payroll and employee benefits

Analyzing market trends for strategic planning

Preparing financial statements for external stakeholders (correct)

Budgeting and forecasting for internal decision-making

Matching expenses to the period when they are incurred (correct)

Ignoring the timing of cash flows

Recording expenses only when they are paid

Recognizing revenue when cash is received