Accounting Concepts Quiz

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

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

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

_____ is responsible for managing employee compensation, including salaries, wages, bonuses, and deductions.

In accounting, the functions and roles of _____ 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 _____

_____ 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 _____.

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

The role of auditors is to _____