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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
Q757: Which instrument represents ownership in a company?
Historical Cost Concept
Going Concern
Accrual Concept
Matching Principle
Materiality
Q758: Which concept requires accountants to record assets at cost?
Cash
Accounts Receivable
Inventory
Equipment
Prepaid Rent
Q759: Which of the following is a source of long-term finance?
Equity Shares
Trade Credit
Accrued Expenses
Salaries Payable
Cash
