Accounting Concepts Quiz

What are the differences between cost, financial, and management accounting? Write your ideas down please.

(a)   is responsible for managing the money owed to a company by its customers for goods or services delivered.

(a)   is responsible for managing the money a company owes to its suppliers and creditors.

(a)   is responsible for managing employee compensation, including salaries, wages, bonuses, and deductions.

In accounting, the functions and roles of (a)   include planning, monitoring, and controlling financial resources to achieve organizational goals.

The legal status of a business can affect its ability to raise finance by (a)  

(a)   apply to all businesses (regardless of size, status, etc.).

The reputation of a business is important for an accounting practice because _____, and accounting staff can influence it by _____.

(a)  

Tax might differ according to the (a)   and size of a business.

The role of auditors is to (a)