Multiple Choice
Which of the following is not a role of accounting in business?
A) To provide reports to users about the economic activities and conditions of a business.
B) To personally guarantee loans of the business.
C) To provide information to other users to determine the economic performance and condition of the business.
D) To assess the various informational needs of users and design its accounting system to meet those needs.
Correct Answer:
Verified
Correct Answer:
Verified
Q35: Proprietorships are owned by one owner and
Q81: Explain the meaning of the business entity
Q114: An income statement is a summary of
Q118: The principal financial statements of a proprietorship
Q119: If a building is appraised for $85,000,
Q120: Use the accounting equation to answer each
Q122: The Austin Land Company sold land for
Q124: Expenses are recorded when<br>A) cash is paid
Q126: The unit of measure concept:<br>A) is only
Q196: An account receivable is typically classified as