Entrepreneurship Long Quiz

They are the primary users of financial information who are inside the reporting entity and are directly involved in managing the company’s daily operations.

• Intenal

• External

• Auditor

• Government

Branch of accounting which involves planned grading and formal teaching in an educational institution

• Government Accounting

• Management Accounting

• Cost Accounting

• Accounting Education

Branch of accounting which deals with the examination and review of accounting reports in order to ascertain their fairness, propriety and reliability.

• Cost Accounting

• Tax Accounting

• Budgeting

• Auditing

A type of business which earns based on the skill or quality of service it offers.

• Manufacturing

• Service

• Sole Proprietorship

• Trading

A business organization owned and managed by two or more people who agree to contribute money, property or industry to a common fund for the purpose of earning a profit

• Sole Proprietorship

• Partnership

• Corporation

• Cooperative

An association of small producers and consumers who come together voluntarily to form a business which they own, manage, and patronize.

• Sole Proprietorship

• Partnership

• Corporation

• Cooperative

Internal users who are not directly involved in the decision making of the company but they are nonetheless interested in the financial information of the company to determine of they have a future in the company

• Management

• Investors

• Employees

• Bank

A type of business engaged in the production of items to be sold. It involves the purchasing and converting of raw materials to finished goods.

• Merchandising

• Manufacturing

• Corporation

• Service

Financial users who may not be directly involved in the company’s operations but their decisions may significantly affect the business entity

• Internal

• External

• Government

• Employees

A branch of accounting that includes the collection, determination, allocation, assessment, interpretation, and control of cost data, particularly the cost of production in a manufacturing concern

• Private Accounting

• Cost Accounting

• Management Accounting

• Tax Accounting