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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

Q598: Internal audit is primarily concerned with:

Historical Cost Concept
Going Concern
Accrual Concept
Matching Principle
Materiality

Q599: What is the main objective of an audit?

Cash
Accounts Payable
Inventory
Prepaid Rent
Office Supplies

Q600: Which instrument represents ownership in a company?

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

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