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Q: Which one of the following statements is not correct regarding financial accounting and management…

A: Financial Accounting - This is a branch of accounting under which business transactions are recorded…

Q: Explain breifely about the theories of accounting regulation – public interest theory, capture…

A: The four theories of accounting regulation are: Public interest theory, Capture theory, Economic…

Q: difference between financial accounting and management accounting

A: Financial accounting is the process of collecting data to create financial statements. Managerial…

Q: What is the definition of accounting?

A: Accounting is the process of recording financial transactions related to a business. The accounting…

Q: explain the relationship between culture and the adoption of accounting practices

A: Culture includes the beliefs, ideas and customs followed by the individuals in a particular society.…

Q: The reporting of accounting theory is related to what?

A: Accounting theory is all related to the preparation of financial statements of the business.…

Q: what is the basic accounting model?

A: Accounting Model is the collection of principles, rules and guidelines that form framework for…

Q: What is accounting base on

A: The term that is related to the recording of the business transactions, summarizing the data, and…

Q: Which of the following factors should influence business and accounting decisions?a. Economicb.…

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

Q: n the role of the accounting system according to the agency theory

A: Agency theory is one of the common problem in the organization form of the system and that exist due…

Q: What are the different types of accounting?

A: The accounting is a process to record the business transactions and prepare the financial…

Q: How do accounting and business administration differ?

A: The term Business Administration has a wider scope than Accounting. A few of them are outlined…

Q: n what ways do accounting firms differ from one another?

A: solution concept accounting firms Accounting firms means a firm established for the purpose of…

Q: What are the objective of any accounting system?

A: The accounting information system is software in which inputs are added in the form of sales or…

Q: Why is it important to organizationally separate the accounting function from other functions of the…

A: Accounting functions: The functions that are related to maintenance of records of the financial…

Q: 1. Explain the difference between the social role of accounting and the traditional role of…

A: Accounting is being a vast concept, effected by various internal and external users. Traditionally…

Q: What do you mean by materiality concept in accounting?

A: Materiality concept:Materiality concept refers to a condition wherein, the financial information of…

Q: How are changes in accounting principle applied?

A: Accounting Principles:   It refers to a set of guidelines that all organisations must follow while…

Q: How is financial accounting different frommanagement accounting?

A: The financial accounting and the management accounting are used for taking decisions for the…

Q: But what's the distinction among accounting and management

A: Accounting: It is the process of recording any financial transactions incurred in the financial year…

Q: nship or differences between Accounting and accountability?

A: Accounting: Every business has various types of transactions like monetary, goods and services. To…

Q: What are the basic accounting rules?

A: Introduction: To understand the golden principles of accounting, you must first learn everything…

Q: What are the Universal Standards in Accounting?

A: Universal standard of accounting is also known as International standard of accounting. The…

Q: What is meant by “economic Consequences” in accounting standard-setting

A: Definition: Financial accounting standards board (FASB): This is the organization that creates,…

Q: What is the most fundamental accounting model?

A: Solution:- Introduction:- Accounting model play vital role in accounting. Accounting model gives…

Q: What are the differences between EVA and net profit in accounting

A: Introduction : Businesses may assess investment prospects using economic value-added and accounting…

Q: Is accounting theory really necessary for the making of accounting rules?

A: Solution:- Is accounting theory really necessary for the making of accounting rules:- Accounting…

Q: How IT can affect accounting field?

A: Accounting is the recording, classifying, analyzing and interpreting of financial transactions…

Q: Which of the following is not one of the basic concepts of accounting? A) RESPONSIBILITY B)…

A: Accounting:- It can be defined by recording the transactions in a systematic order and should be…

Q: How is the use of accounting information diverse and varied?

A: Definition: Accounting Information: Accounting Information refers to the data which makes a decision…

Q: How does the type of business structure affect accounting, reporting, taxes, and liability?

A: Types of business are sole proprietorship, Partnership, LLC, Cooperative, Corporations.

Q: hat are the benefits of Accounting System Analysis?

A: Accounting system analysis is very important for business and organization to grow and survive.

Q: How distinguishes accounting and business administration from each other

A: Accounting: It is the process of recording any financial transactions incurred in the financial year…

Q: what makes up accounting theory

A: An accounting theory is a notion that uses speculations, methodologies and frameworks in the study…

Q: Explain differential effects on accounting standards.

A: Accounting standards deals with the issues of: Recognition of events and transaction in financial…

Q: Explain the different accounting concepts and conventions with examples

A: Accounting Concepts and Conventions exist to serve the basic objective of accounting, i.e, to…

Q: What is the difference of basic accounting equation from the expanded accounting equation?

A: Accounting: It is the process of recording, classifying, summarizing all transactions of a business…

Q: n conceptual framework resolve accounting problems? How?

A: Introduction: Conceptual framework is a guide for preparing financial statements by identifying the…

Q: What concepts and terminology are utilized in accounting?

A: Introduction: A company's financial transactions are tracked through accounting, which is the…