Exam 1: Decision Making and the Role of Accounting

Behaviour conforming to acceptable moral standards is said to be e_________________.

Which type of information about J Company would be of most interest to the Australian Taxation Office?

The two broad branches into which accounting is divided are:

Maintaining a satisfactory relationship between an entity's resource inputs and its output of product or services is referred to as:

Which of the following is not normally an economic decision?

Which statement is incorrect?

In the accounting profession the initials CPA stand for:

A business that is unable to pay its long-term debts is referred to as i________________.

Accounting is the process of identifying,measuring,recording and communicating economic information to interested parties for _______________-making.

Which type of information about J Company would be of most interest to its trade creditors?

Which of these is not a characteristic of financial accounting?

Financial reports intended to serve the diverse needs of a variety of external user groups who are unable to obtain their own accounting information are known as:

Special-purpose financial statements provide information mainly for the use of which of these parties? Internal decision makers External decision makers a. Yes Yes b. No Yes c. Yes No d. No No

________________ is often called the 'language of business'.

Which of the following has been the most influential in redefining the role of accountants as analysts and decision makers rather than as mainly number-crunchers?

The term 'general-purpose financial statements' refers to the fact that the information in the reports is:

The economic activities of an entity that are the raw material of accounting are known as t__________________.

The address of the website of CPA Australia is:

Select the incorrect statement from the following:

External decision makers can be divided into four groups,to which of these groups do investors and creditors belong?