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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
Q133: Which of the following is tax deductible for a business?
Money today is worth more than in the future
Money loses value
Money increases over time
Money never changes
Money is unlimited
Q134: Which concept requires accountants to record assets at cost?
Money today is worth more than in the future
Money loses value
Money increases over time
Money never changes
Money is unlimited
Q135: Which authority is responsible for collecting taxes?
Income Statement
Balance Sheet
Cash Flow Statement
Trial Balance
Notes to Accounts
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