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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
Q928: Which concept requires accountants to record assets at cost?
Return on Investment
Rate of Interest
Revenue on Income
Ratio of Investment
Return on Income
Q929: Which costing method assigns costs to activities?
Equity Shares
Trade Credit
Accrued Expenses
Salaries Payable
Cash
Q930: Which of the following is tax deductible for a business?
Cash
Accounts Receivable
Inventory
Equipment
Prepaid Rent
