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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
Q952: Which tax is charged directly on income?
To calculate tax
To show financial position
To measure employee performance
To prepare budgets
To manage HR
Q953: The auditor’s report is addressed to:
Money today is worth more than in the future
Money loses value
Money increases over time
Money never changes
Money is unlimited
Q954: Which concept requires accountants to record assets at cost?
Cash
Accounts Payable
Inventory
Prepaid Rent
Office Supplies
