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
Q27: Depreciation is the cost of certain long-lived
Q43: Allocating the cost of using long-term assets
Q55: Creditors use the statement of financial position
Q65: Two internal users of accounting information are
Q69: The cost of assets consumed or services
Q87: If total liabilities increased by $25,000 and
Q88: A proprietor has unlimited liability.
Q99: A business organized as a separate legal
Q113: The reasons for a decrease in cash
Q114: The right to receive money in the