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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
Q562: Which concept requires accountants to record assets at cost?
To calculate tax
To show financial position
To measure employee performance
To prepare budgets
To manage HR
Q563: What is the main objective of an audit?
Cash
Accounts Payable
Inventory
Prepaid Rent
Office Supplies
Q564: Which costing method assigns costs to activities?
Historical Cost Concept
Going Concern
Accrual Concept
Matching Principle
Materiality
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