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15 questions
The selecting of economic events that are relevant to a particular business transaction is called _________.
Recording
Measuring
Identifying
Classifying
Keeping a chronological diary of events that are measured in pesos is called _______.
Verifying
Recording
Interpreting
Summarizing
It occurs through the preparation and distribution of financial and other accounting reports is called ________.
Measuring
Classifying
Recording
Communicating
Accounting provides assistance to decision makers by providing them financial reports that will guide them in coming up with sound decisions is called ______.
A process
A service activity
An information system
An art and discipline
Collects processes and communicates financial information of any entity is _______.
A process
A service activity
An information system
An art and a discipline
The method of performing any specific job step by step according to the objectives or targets is called ______.
A process
A service activity
An information system
An art and a discipline
Dealt with commercial transactions at the time of Mesopotamia such as listing of accounts receivable and accounts payable is during ________.
The Cradle of Civilization
French Revolution (1700's)
The Industrial Revolution (1760-1830)
14th Century Double-Entry Bookkeeping
Mass production and the great importance of fixed assets were given attention during the period of _________.
The Cradle of Civilization
French Revolution (1700's)
The Industrial Revolution (1760-1830)
14th Century Double-Entry Bookkeeping
The most important event in accounting history is generally considered to be the dissemination of double entry bookkeeping by Luca Pacioli happened during _________.
The Cradle of Civilization
French Revolution (1700's)
The Industrial Revolution (1760-1830)
14th Century Double-Entry Bookkeeping
The thorough study of accounting and development of accounting theory began during the period of _______.
The Cradle of Civilization
French Revolution (1700's)
The Industrial Revolution (1760-1830)
14th Century Double-Entry Bookkeeping
These are the users wherein accounting information is used for analyzing viability and profitability of their investments.
Management
Owners
Creditors
Investors
These users' need the information because they are concerned with the risk inherent in investing and the returns or invested decisions are the _______.
Management
Owners
Creditors
Investors
This user in which accounting is of great assistance to management for planning, controlling, and decision-making process is the ________.
Management
Owners
Creditors
Investors
These users who is interested in accounting information because it enables them to determine the credit worthiness of the business or decide whether to extend credit or not are the ________.
Management
Owners
Creditors
Employees
These users who wants to find out the financial health, amount of sales and profitability of business to determine their job security are the __________.
Creditors
Owners
Investors
Employees
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