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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
Q187: Which concept requires accountants to record assets at cost?
Income Statement
Balance Sheet
Cash Flow Statement
Trial Balance
Notes to Accounts
Q188: Overhead costs are usually allocated based on:
Current Ratio
Debt Ratio
ROE
EPS
P/E Ratio
Q189: Which concept requires accountants to record assets at cost?
To calculate tax
To show financial position
To measure employee performance
To prepare budgets
To manage HR
