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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
Q109: Which concept requires accountants to record assets at cost?
Historical Cost Concept
Going Concern
Accrual Concept
Matching Principle
Materiality
Q110: Which statement shows the financial position of a company at a point in time?
Equity Shares
Trade Credit
Accrued Expenses
Salaries Payable
Cash
Q111: Which of the following is not a current asset?
Cash
Accounts Payable
Inventory
Prepaid Rent
Office Supplies
