46 .Accounting provides assistance to decision makers by providing them financial reports that will guide them in coming up with sound decisions. What nature of accounting is this?    A. finance B. recognition C. recording D. service

Q: How accounting information help stakeholders in decision making

A: Accounting is the process of recording, classifying and summarising accounting information in such a…

Q: Which of the following statements are true? An accounting Conceptual Framework: (i) Sets out who the…

A: A conceptual framework can be defined as a system of ideas and objectives that lead to the creation…

Q: Accounting information should have some qualitative characteristics in order to facilitate efficient…

A: Accounting information: Accounting is the process to record, analyze, summarize, and interpret…

Q: The “due process” system in developing financial reporting standards A. is an efficient system for…

A: Meaning : Financial Accounting Standards Board (FASB)  FASB (Financial Accounting Standard Board) is…

Q: Which of the following is NOT an objective of Management Accounting? a. Interpretation of Financial…

A: Management accounting refers to use of accounting and financial information of an entity in order to…

Q: Which function of accounting is investigating the meaning of the information in the reports and the…

A: Analyzing: Under this function of accounting includes line-by-line inspections that break down…

Q: Here are some qualitative characteristics of useful accounting information: 1. Predictive value 2.…

A: Introduction: Accounting: Accounting is an art of recording , classifying , summarizing,…

Q: Accounting information provides useful information about business transactions and events. Those who…

A: SOLUTION- RELEVANCE REFERS TO THE PROPERTY OF INFORMATION BEING CAPABLE OF MAKING A DIFFERENCE IN…

Q: Determine the second level in the conceptual framework of accounting. a. Qualitative characteristics…

A: A conceptual framework of accounting is a system of ideas and major goal which lead to the making of…

Q: 1. Accounting being regarded as the performance of specific actions such as identifying, measuring,…

A: Note: We’ll answer the first question since the exact one wasn’t specified. Please submit a new…

Q: Evaluate the statement “Accounting is all about numbers.”. Using the definition of accounting to…

A: Accounting is defined as the process of identifying, measuring, recording and communicating economic…

Q: The following is a list of qualitative characteristics of useful accounting information identified…

A: An independent body or organization which is involved in the preparation of financial accounting and…

Q: Verifiability of financial accounting information is synonymous with: a.) faithful representation…

A: Financial accounting standards board (FASB): This is the organization which creates, develops, and…

Q: Why is accounting quality important in financial analyst. Provide an example showing one of the…

A: The value of financial accounting is primarily defined by its quality. The core premise of…

Q: Ms. Sabiha submitted the financial reports of the company in a theoretical form, whereas she needs…

A: Financial reports: All the financial activities of the company are recorded in financial reports.…

Q: An accounting policy is

A: Accounting policy are not judgement applied to record a transaction. Accounting estimates are…

Q: A conceptual framework for financial reporting is a statement of generally accepted theoretical…

A:

Q: To what extent are financial reports providing relevant and timely information to stakeholders?…

A: Given: The extent at which the financial provide information to stake holders and its improvements…

Q: Management accounting is considered most likely to be successful when it: A) B) C) is timely D) a.…

A: Management accounting is that branch of accounting which helps management in making decisions with…

Q: GAAP (general accepted accounting principle)

A: GAAP is the set of principles to be followed during the preparation of financial statements. It is…

Q: Professional judgment plays a major role in the practice of accounting.a. In general terms, explain…

A: Accounting process: Accounting process is a system of collecting and organizing economic…

Q: Financial accounting is concerned with data gathering and compliance with established accounting…

A: Financial management and financial accounting are co related to each other.

Q: Conduct Applied Research on Accounting Theory and the Relevance to Financial Reporting.

A: Bookkeeping hypothesis could likewise be used to disclose existing practices to amass a superior…

Q: Accounting information provides useful information about business transactions and events. Those who…

A: SOLUTION- UNDERSTANDABILITY IS THE CONCEPT OF FINANCIAL INFORMATION SHOULD BE PRESENTED SO THAT A…

Q: elect the correct combination of similarity between accounting, finance and banking? i. Dealing…

A: Banking is the  financial institution who  receives, collects and pays  money for customers Finance…

Q: ) Describe the advantages and disadvantages of these two approaches to accounting standards setting,…

A: Accounting standards are those standards which state the guidelines, rules and regulations which is…

Q: n your own words, what does relevance mean to you?  After tackling this topic, then research…

A: Relevance means the necessity of work at a specific point of time. Relevance means the work which we…

Q: Identify TWO external consumers of accounting information and explain how that accounting…

A: Introduction: The term "financial statement" refers to any statement, such as an income statement, a…

Q: The IASB’s Framework for the Preparation and Presentation of Financial Statements gives qualitative…

A: The IASB’s Framework for the Preparation and Presentation of Financial Statements gives qualitative…

Q: Accounting in the United States follows Generally Accepted Accounting Principles (GAAP), which are…

A: Full form of GAAP is generally accepted accounting principles. This is the collection of commonly…

Q: Management accounting provides economic and financial information for external users such as…

A: We shall answer the first question since the exact one wasn't specified. Please resubmit a new…

Q: he underlying purpose of the conceptual framework for financial reporting includes which of the…

A: Answer are as follows.

Q: Multiple choice: 1. Which of the following is one of the fundamental qualitative characteristics? A.…

A: 1. Relevance and faithful presentation are the two most important qualitative qualities of financial…

Q: 1) Identify and discuss the benefits that can be expected to be derived from the FASB’s conceptual…

A:

Q: Explain the “due process” procedures followed by the FASB in developing a financial reporting…

A: Financial accounting standards board (FASB): This is the organization which creates, develops, and…

Q: What is the conceptual framework of Accounting    ?

A: Note: We’ll answer the first question since the exact one wasn’t specified. Please submit a new…

Q: dentify TWO external users of accounting information and explain how that accounting information…

A: Financial statement means the statement including income statement , balance sheet , cash flow…

Q: Multiple choice: 1. This qualitative characteristic requires at least two items. A. Timeliness B.…

A: The answers for the multiple choice questions and relevant explanation are presented hereunder :…

Q: An enhancing qualitative characteristics of financial accounting information is that: Information…

A: The criteria for enhancing qualitative characteristics of financial accounting information is…

Q: 1. One of the functions of accounting is to "supply information for decision making". Explain this…

A: Accounting is referred to the process which involves recording business events and transactions in…