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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
Q691: What is the primary purpose of financial statements?
Cash
Accounts Payable
Inventory
Prepaid Rent
Office Supplies
Q692: Which concept requires accountants to record assets at cost?
Historical Cost Concept
Going Concern
Accrual Concept
Matching Principle
Materiality
Q693: Which costing method assigns costs to activities?
Bond
Debenture
Equity Share
Loan
Preference Share
