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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
Q205: The auditor’s report is addressed to:
Historical Cost Concept
Going Concern
Accrual Concept
Matching Principle
Materiality
Q206: Which of the following is a liability account?
Equity Shares
Trade Credit
Accrued Expenses
Salaries Payable
Cash
Q207: VAT is an example of:
Historical Cost Concept
Going Concern
Accrual Concept
Matching Principle
Materiality
