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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
Q22: Which concept requires accountants to record assets at cost?
Cash
Accounts Receivable
Inventory
Equipment
Prepaid Rent
Q23: Which of the following is not an audit evidence technique?
Return on Investment
Rate of Interest
Revenue on Income
Ratio of Investment
Return on Income
Q24: VAT is an example of:
To calculate tax
To show financial position
To measure employee performance
To prepare budgets
To manage HR
