NEW
Font size
WorksheetsPOB 6.0
Total questions: 10
Worksheet time: 5mins
What is accounting?
The process of keeping & interpreting financial records
The methods and procedures used in consistently handling the business's financial information.
A method of accounting that records transactions at the time they occur even if no money changes hands at the same time (record, but no money)
A method of accounting that records transactions at the time they occur even if no money changes hands at the same time (record, but no money)
The methods and procedures used in consistently handling the business's financial information.
Managerial Accounting
accounting system
Cost accounting
Accrual accounting method
What is accrual accounting method?
The process of keeping & interpreting financial records
An accounting method in which income & expenditures are recorded at the time the money changed hands
Used to reduce & eliminate costs in a business. Cost accounting is used to determine a price for a product or service that will allow earnings of a reasonable profit. (How can we save the company money)
A method of accounting that records transactions at the time they occur even if no money changes hands at the same time (record, but no money)
An accounting method in which income & expenditures are recorded at the time the money changed hands
Managerial Accounting
Cost accounting
Cash accounting method
Accrual accounting method
What is cost accounting?
Used to reduce & eliminate costs in a business. Cost accounting is used to determine a price for a product or service that will allow earnings of a reasonable profit. (How can we save the company money)
The process of keeping & interpreting financial records
A type of accounting that involves preparing & reporting financial data to internal users, usually managers, who need financial information to control Day-to-day operations & to make financial decisions & plans affecting the business
A method of accounting that records transactions at the time they occur even if no money changes hands at the same time (record, but no money)
A type of accounting that involves preparing & reporting financial data to internal users, usually managers, who need financial information to control Day-to-day operations & to make financial decisions & plans affecting the business
Accounting
Cash accounting method
accounting system
Managerial Accounting
the accounting function ______________ and _______________ the information needed to plan and make decisions in the finance function
Records
Generates
Both
None
capital investment decisions are made for the _____ _________
Mid term
Short term
Long term
none
working capital management involves decisions made for the __________ __________
Long term
Short term
none
Mid term
What is finance?
all money owed to a firm by its customers
found in parenthesis
all money owed by the business to others
the process of obtaining funds and using them to achieve the goals of the business
