FI-351 Accounting

What is the process of keeping and interpreting financial records?

• Budget

• Transparency

• Accounting

• Audit

What is the process by which an organization's accounts and records are verified?

• Code of ethics

• Responsibility

• Balance sheet

• Audit

Which financial statement captures the financial condition of the business at a particular moment?

• Income statement

• Cash flow statement

• Balance sheet

• Fairness

What is an estimate of income and expense for a specific period of time?

• Integrity

• Managerial accounting

• Conflict of interest

• Budget

Which financial summary provides estimates as to when, where, and how much money will flow into and out of a business?

• Cash flow statement

• Financial statements

• Objectivity

• Public accountant

What is a set of rules for governing behavior?

• Responsibility

• Ethics

• Transparency

• Confidentiality

What is the practice of keeping information secret or private?

• Conflict of interest

• Integrity

• Confidentiality

• Fairness

What is a situation in which it's impossible to be truly impartial?

• Balance sheet

• Audit

• Conflict of interest

• Managerial accounting

What are the basic principles that govern behavior?

• Ethics

• Transparency

• Responsibility

• Objectivity

What is the ability to make judgments without favoritism or self-interest?

• Fairness

• Budget

• Code of ethics

• Accounting