Choose the term or phrase below that best completes each statement.a. Accounting c. Recording e. Governmental g. Language of businessb. Identifying d. Communicating f. Technology h. Recordkeeping (bookkeeping) requires that we input, measure, and log transactions and events.

Q: hat are the accounting information needed by: a. Internal users b. External users

A: Accounting Information:- This is that information that is required by both external and internal…

Q: Choose the term or phrase below that best completes each statement.a. Accounting c. Recording e.…

A:

Q: When making business dec rarious sources of informa inancial statements. A comparison of the infor

A: Financial statements reflect various reports, and documents of a company that reflects its overall…

Q: The accounting process is correctly sequenced as identification, communication, recording.…

A: In the accounting process, firstly the transaction is identified, then it will be recorded and…

Q: What can you say about this statement, "Information should be treated as a business resource."

A: Business resources The primary factors of production and inputs into each organization's production…

Q: to be useful, accounting information should be presented using

A: The company will record each and every day to day transactions happened during the operations of the…

Q: information would include ........ .

A: External users are people outsidebusiness entity who use accounting information.external users are…

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: Differentiate the following terms. a. Bookkeeping and financial accounting.

A: a) The terms 'Bookkeeping and accounting both are part of the accounting system which starts with…

Q: Definition The recording of transactions and events only, either manually or electronically. An…

A: 1) The term Bookkeeping refers to the process which tells us how to keep record of financial…

Q: rder the following steps in the accounting process that focus on analyzing and recording…

A: Solution- A trial balance is a listing of all accounts (in this order:  asset, liability, equity,…

Q: Accounting is often referred to as "the language of business." Using research and supporting…

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Q: Explain what it means to manage, define accounting, and discuss the nature and purpose of…

A: Introduction: Accounting is concerned mainly with recognizing, documenting, measuring, and…

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: Accounting deals with

A: First option is wrong because accounting includes measurement of transactions into monetary value…

Q: Define accounting and discuss the many applications of accounting information.

A: Accounting: Accounting is a system or process that collects and organizes economic transactions,…

Q: How does accounting provide important data to a. Internal users b. External users

A: The process by which financial transactions of the business are recorded and communicated with the…

Q: Which process of the accounting cycle often requires the most analytical thought?A. making a journal…

A: Accounting cycle is the detailed process of recording, classifying, summarising and reporting…

Q: which internal users need the accounting information

A: Accounting information data is the data that emerges from business exchanges. When distinguished,…

Q: Choose the term or phrase below that best completes each statement.a. Accounting c. Recording e.…

A: Technology in accounting reduces the time, effort, and cost of recordkeeping while improving…

Q: 1. Name the transactions or events which can be considered "IDENTIFYING" based on the definition of…

A: "IDENTIFYING" means determining the transactions that are financial in nature and needs to be…

Q: Accounting is the information system that a. measures business activities. b. communicates the…

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

Q: A-Preparing the SCE _F-Preparing business document B-Preparing SCI G-Analyzing the transactions…

A: Accounting is procedure of analyzing, recording, classifying and reporting of monetary transactions.…

Q: State two users of accounting information and what type of information they need.

A: There are various users of accounting information.

Q: Why is accounting referred to be an information system? Explain with an example from your own point…

A: Information system is a system which is designed to collect, store and process information for the…

Q: Th e collection of all business transactions sorted by account in an accounting system is referred…

A: Financial Accounting Financial accounting is that branch of accounting which is associated with…

Q: Choose the term or phrase below that best completes statement: __________ is the recording of…

A: Account: It can be defined as a record that is maintained in the accounting system to track the…

Q: What are the 2 specific advantages of Accounting Information Systems (AIS) to ease accountants in…

A: Accounting information system is the system which collects, stores, records, summarise and report…

Q: Accounting role of a business organization explained. Whence comes the function, and why is it…

A: Accounting functions involve tracking, storing, documenting, analyzing, summarizing, and reporting a…

Q: Classify the following activities as part of the identifying (I), recording (R), or communicating…

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Q: ubject: accounting information system (a) Discuss REA modelling in accounting information systems.…

A: REA Modelling REA was originally projected in 1982 by William E. McCarthy as a generalized…

Q: Identify each of the following terms/phrases as either an accounting (a) principle, (b) assumption,…

A: Principles are the rule made for every business.

Q: Create a business transaction journal using these following transactions.

A: Journal Entry is the most important part of the accounting as its a basis for further preparation of…

Q: Identify four kinds of external users and describe how they use accounting information.

A: External users of accounting information are those users which are from outside the organization and…

Q: Choose the term or phrase below that best completes statement: __________ requires that we input,…

A: General accounting is defined as the general ledger collecting as well as accounting activities…

Q: Classify the following activities as part of the identifying (I), recording (R), or communicating…

A: Identifying function: helps the organization to select from its business activities, the…

Q: Classify the following activities as part of the identifying (I), recording (R), or communicating…

A:

Q: The users of accounting information can be classified into internal and external users. Clearly…

A: Accounting information is the information related to the concepts of accounting which are to be used…

Q: Choose one topic from accounting and write a report on it.

A: Accounting is that the method of recording money transactions concerning the business. The…

Q: Order the following steps in the accounting process that focus on analyzing and recording…

A: Accounting process: It can be defined as the process of gathering and recording the financial data…

Q: Any written evidence in support of a business transaction is called   (A) Journal   (B) Ledger…

A: We have the following question: Any written evidence in support of a business transaction is called:…