The Fundamentals of Business Quiz

An organization that does not aim to make a profit (correct)

An organization that aims to make a profit

An organization that provides goods or services

An organization that has stakeholders

To oversee the transformation of materials into goods and services

To provide funds in exchange for goods and services

To prepare reports on the cost of materials used in the production process

To have a legitimate interest in the success or failure of the business (correct)

To prepare reports on the cost of materials used in the production process

To create financial statements for the public

To oversee the transformation of materials into goods and services (correct)

To provide goods or services to customers

<p>Financial accounting creates statements for the public, while managerial accounting prepares reports for internal use only</p> Signup and view all the answers

<p>The funds received in exchange for goods and services</p> Signup and view all the answers