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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
Q982: Which statement shows the financial position of a company at a point in time?
Income Statement
Balance Sheet
Cash Flow Statement
Trial Balance
Notes to Accounts
Q983: Which instrument represents ownership in a company?
Money today is worth more than in the future
Money loses value
Money increases over time
Money never changes
Money is unlimited
Q984: Which costing method assigns costs to activities?
Historical Cost Concept
Going Concern
Accrual Concept
Matching Principle
Materiality
