Introduction to Accounting

Front

The purpose of accounting is to....

Back

communicate financial and non-financial information to interested users so that they can make informed decisions

Front

The Accounting Entity means...

Back

the business is a separate accounting entity from its owner.

Front

Transactions and events that cannot be measured in money terms are not recorded in the books of accounts. It is due to Money Measurement Concept.

Back

True

Front

__________________ is a language of business.

Back

Accounting

Front

Management is the ________ users of accounting.

Back

internal

Front

End product of accounting is __________and _____________of accounting.

Back

P & L account ,Balance sheet

Front

The purpose of accounting is to____

Back

communicate financial information to interested users so that they can make informed decisions

Front

________ is recording, analyzing, and interpreting financial information there off.

Back

Accounting

Front

Which of the following does not represent the characteristics of Management Accounting?
- Helps in finding out cost of products and control costs
- Measures the operating efficiency of the enterprise
- Helps in identifying the financial position of the business
- Process of determining and accumulating the cost of products or activity

Back

Helps in identifying the financial position of the business

Front

The following are the objectives of accounting except _______

Back

Facilitates comparative study