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The processing stage of accounting is accomplished by

The processing stage of accounting is accomplished by

 

a.

recording transactions.

b.

reporting to decision makers.

c.

controlling and evaluating data.

d.

bookkeeping, computers, and information systems.

 

 

 

101.A company's ability to attract and hold investment capital ultimately depends on its

 

a.

profitability.

b.

planning.

c.

budgeting.

d.

liquidity.

 

 

 

102.The group of users of accounting information charged with achieving the goals of the business is its

 

a.

investors.

b.

auditors.

c.

creditors.

d.

management.

 

 

 

103.A primary user of accounting information with a direct financial interest in the business is a

 

a.

regulatory agency.

b.

taxing authority.

c.

creditor.

d.

labor union.

 

 

 

 

 

 

104.Which of the following groups uses accounting information primarily to help protect the public?

 

a.

Economic planners

b.

Management

c.

Regulatory agencies

d.

Tax authorities

 

 

 

105.One user of accounting information with an indirect financial interest in a business is

 

a.

a financial adviser.

b.

an investor.

c.

management.

d.

a creditor.

 

 

 

106.Companies listed on the stock exchanges must file financial statements with the

 

a.

Securities and Exchange Commission.

b.

American Institute of Certified Public Accountants.

c.

Internal Revenue Service.

d.

Financial Accounting Standards Board.

 

 

 

107.Which of the following is an agency of the U.S. government?

 

a.

AICPA

b.

SEC

c.

IASB

d.

FASB

 

 

 

108.Those who lend money or deliver goods and services before being paid are called

 

a.

investors.

b.

creditors.

c.

debtors.

d.

underwriters.

 

 

 

109.All of the following are basic management functions, except

 

a.

providing information to decision makers.

b.

regulating the trading of stocks.

c.

marketing goods and services.

d.

financing the business.

 

 

 

 

Dec 10 2019 View more View Less

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