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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
Q55: The auditor’s report is addressed to:
Income Statement
Balance Sheet
Cash Flow Statement
Trial Balance
Notes to Accounts
Q56: Which instrument represents ownership in a company?
Cash
Accounts Receivable
Inventory
Equipment
Prepaid Rent
Q57: Internal audit is primarily concerned with:
Cash
Accounts Receivable
Inventory
Equipment
Prepaid Rent
