This involves keeping a chronological diary of events that are measured in pesos. The diary referred to in the definition are the journals and ledgers which will be discussed in future chapters.

This involves selecting economic events that are relevant to a particular business transaction. The economic events of an organization are referred to as transactions.

All are nature of accounting except for one

Identify what branch of accounting renders this service.

Preparation of general-purpose financial statements

Identify what branch of accounting renders this service.

Report on the total cost of materials and labor used in the production

Identify what branch of accounting renders this service.

Conducting lectures on accounting topics.

Identify the internal users of accounting information using the given decisions supported statement below

analyze the organization's performance and position and take appropriate measures to improve the company results. sufficiency of cash to pay dividends to stockholders; pricing decisions.

Identify the internal users of accounting information using the given decisions supported statement below

considerations regarding additional investment, expanding the business, borrowing funds to support any expansion plans.

Identify the external users of accounting information using the given decisions supported statement below

for determining the credit worthiness of an organization.

Identify the external users of accounting information using the given decisions supported statement below

for determining the credibility of the tax returns filed on behalf of a company.