Multiple Choice
Which of the following is the most appropriate definition of accounting?
A) The information system that identifies, records, and communicates the economic events of an organization to interested users.
B) a means of collecting information
C) The interconnected network of subsystems necessary to operate a business.
D) electronic collection, organization, and communication of vast amounts of information
Correct Answer:
Verified
Correct Answer:
Verified
Q12: The statement of changes in equity would
Q14: Investing activities involve collecting the necessary funds
Q15: Profit for the period is determined by
Q16: Payments to shareholders are called<br>A)expenses.<br>B)liabilities.<br>C)dividends.<br>D)shares.<br>
Q16: Common shares are reported on<br>A)the statement of
Q17: Financial statement users are interested in profit
Q18: The financial statement that summarizes the changes
Q19: Any deficiency in cash from operating activities
Q24: The statement of financial position<br>A)summarizes the changes
Q72: The partnership form of business organization<br>A)is a