Each question has one possible correct answer. Group the accounting terms according to their explanation Accounting Financial accounting Accounting standards Stock-taking Auditor Management accounting person who, according to the law, has the right to audit the company's annual report ollection of compilation and processing of economic information conomic assets, registration in inventory lists with accounting data, as well as reconciliation of claims and liability amounts with debtors and creditors part of the company's accounting, the main purpose of which is the collection, analysis, preparation and presentation of financial and operational information necessary for the management of the company efines and explains basic accounting principles and requirements component of company accounting whose main task is the preparation of financial statements for the company's board, management and other users of financial statements.

Each question has one possible correct answer. Group the accounting terms according to their explanation Accounting Financial accounting Accounting standards Stock-taking Auditor Management accounting person who, according to the law, has the right to audit the company's annual report ollection of compilation and processing of economic information conomic assets, registration in inventory lists with accounting data, as well as reconciliation of claims and liability amounts with debtors and creditors part of the company's accounting, the main purpose of which is the collection, analysis, preparation and presentation of financial and operational information necessary for the management of the company efines and explains basic accounting principles and requirements component of company accounting whose main task is the preparation of financial statements for the company's board, management and other users of financial statements.

Financial Accounting: The Impact on Decision Makers

10th Edition

ISBN:9781305654174

Author:Gary A. Porter, Curtis L. Norton

Publisher:Gary A. Porter, Curtis L. Norton

Chapter2: Financial Statements And The Annual Report

Section: Chapter Questions

Problem 2.11E

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Similar questions

The standards, procedures, and principles companies must follow when preparing their financial statements are known as which of the following? A. Financial Accounting Standards Board (FASB) B. generally accepted accounting principles (GAAP) C. Securities and Exchange Commission (SEC) D. conceptual framework
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Which of the following is the principle that a business must report any business activities that could affect what is reported on the financial statements? A. revenue recognition principle B. expense recognition (matching) principle C. cost principle D. full disclosure principle
What accounting policies are disclosed in the notes accompanying a companys financial statements? Why is this disclosure important?
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According to Statement of Financial Accounting Concepts No. 8, to be relevant an earnings report is expected to have which of the following?
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These are used by the FASB, and it is a set of concepts that guide financial reporting. A. Financial Accounting Standards Board (FASB) B. generally accepted accounting principles (GAAP) C. Securities and Exchange Commission (SEC) D. conceptual framework
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List the three basic questions that must be answered when analyzing the effects of a business transaction on the accounting equation.