Podcast
Questions and Answers
Which term is often used interchangeably with accounting?
Which term is often used interchangeably with accounting?
- Auditing
- Finance (correct)
- Economics
- Bookkeeping
What is the main focus of financial accounting?
What is the main focus of financial accounting?
- Recording of financial transactions
- Preparation of financial statements (correct)
- Internal use by management
- Measurement and analysis of information
Which field of accounting focuses on information for internal use by management?
Which field of accounting focuses on information for internal use by management?
- Tax accounting
- Financial accounting
- Management accounting (correct)
- Cost accounting
What is the purpose of accounting?
What is the purpose of accounting?
What are practitioners of accounting known as?
What are practitioners of accounting known as?
Financial ratios are basic calculations using quantitative data from a company’s ______
Financial ratios are basic calculations using quantitative data from a company’s ______
Businesses use financial ratios to determine ______
Businesses use financial ratios to determine ______
Financial ratios are sometimes referred to as ______ ratios or finance ratios
Financial ratios are sometimes referred to as ______ ratios or finance ratios
Internal and external stakeholders use financial ratios for ______
Internal and external stakeholders use financial ratios for ______
Financial ratios are important for assessing how a company generates revenue and profits using business expenses and ______
Financial ratios are important for assessing how a company generates revenue and profits using business expenses and ______
Flashcards are hidden until you start studying
