Funda 1 (Q2)

What is primarily centered on the critical examination of financial statements by an independent CPA to express an opinion regarding the fairness of the contents of the financial Statements?

• auditing

• cost accounting

• financial accounting

• management accounting

• tax accounting

Which branch of accounting embraces the preparation of various tax returns and tax planning necessary to minimize the impact of taxes on the firm?

• Auditing

• Cost accounting

• Financial accounting

• Management accounting

• Tax accounting

Which branch of accounting embraces the preparation of various tax returns and tax planning necessary to minimize the impact of taxes on the firm?

• Auditing

• Cost accounting

• Financial accounting

• Management accounting

• Tax accounting

Which branch of accounting is primarily concerned with the preparation of specific purpose financial statements for the management to base financial decisions on?

• Auditing

• Financial accounting

• Cost accounting

• Tax accounting

• Management Accounting

Which branch of accounting is concerned with analyzing costs of products or services rendered in a business?

• Auditing

• Cost accounting

• Financial Accounting

• Management Accounting

• Tax Accounting

Which branch of accounting deals with the calculate the profit or loss of a business during a period and to provide an accurate picture of the financial position of the business as on a particular date to investors or banks?

• Auditing

• Cost accounting

• Financial Accounting

• Management accounting

• Tax accounting

Keanna, Toni, and Harold are accountants in a large multinational corporation. They prepare various Management Information reports such as Budgets, Projected Cash Flow Statements, Cost-Volume-Profit Analysis reports, Break-Even-Point calculation for the different department heads, the Vice-Presidents, the president, and the CEO to consider. Which branch of accounting is being talked about in this scenario.

• Auditing

• Cost Accounting

• Financial Accounting

• Management Accounting

• Tax Accounting

Rob is a CPA who inspects the accuracy and consistency of financial statements and certifies the accounts done by the accountants of his clients. Which branch of accounting is Rob doing?

• Auditing

• Cost Accounting

• Financial accounting

• Management Accounting

• Tax accounting

Encompasses the process of analyzing, classifying, summarizing and communicating all transactions including the receipt anf disposition of government funds and property, and interpreting the results thereof.

• Cost Accounting

• Management Accounting

• Government Accounting

• Tax Accounting

Involves planned grading and formal teaching in an educational institution

• Government Accounting

• Accounting Research

• Accounting Education

• Cost Accounting