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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
Q238: What is the primary purpose of financial statements?
Return on Investment
Rate of Interest
Revenue on Income
Ratio of Investment
Return on Income
Q239: Internal audit is primarily concerned with:
Money today is worth more than in the future
Money loses value
Money increases over time
Money never changes
Money is unlimited
Q240: Which of the following is a liability account?
Historical Cost Concept
Going Concern
Accrual Concept
Matching Principle
Materiality
