Review Intro to Accounting

Accounting is a process.

• True

• False

Accounting is both an art and discipline.

• True

• False

Accounting is NOT an information system

• True

• False

Accounting is NOT the language of business.

• True

• False

Accounting is the process of informing, repeating, and destructing economic events.

• True

• False

Recording is a part of accounting process.

• True

• False

Owners are internal users of financial information.

• True

• False

Customers are not external users of accounts.

• True

• False

Luca Pacioli is the Father of Accounting.

• True

• False

There are four primary internal users of accounts.

• True

• False