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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
Q148: Which of the following is not a current asset?
Historical Cost Concept
Going Concern
Accrual Concept
Matching Principle
Materiality
Q149: Which concept requires accountants to record assets at cost?
Equity Shares
Trade Credit
Accrued Expenses
Salaries Payable
Cash
Q150: What is the main objective of an audit?
Income Statement
Balance Sheet
Cash Flow Statement
Trial Balance
Notes to Accounts
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