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Acounting & Finance

Acounting & Finance

Accounting is the practice of recording, summarizing, and reporting financial transactions to provide information for decision-making, while finance is the management of money, including investing, budgeting, and forecasting.

Quiz Questions

Q406: Which authority is responsible for collecting taxes?

Cash
Accounts Receivable
Inventory
Equipment
Prepaid Rent

Q407: Which ratio measures a company's ability to meet short-term obligations?

Money today is worth more than in the future
Money loses value
Money increases over time
Money never changes
Money is unlimited

Q408: Overhead costs are usually allocated based on:

Income Statement
Balance Sheet
Cash Flow Statement
Trial Balance
Notes to Accounts

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