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Match the Following Terms with the Appropriate Definition

Question 241

Matching

Match the following terms with the appropriate definition.

Premises:

Responses:

Provide the means organizations use to pay for resources such as land,buildings,and equipment to carry out plans.

External users

An information and measurement system that identifies,records and communicates relevant reliable and comparable information about an organization's business activities.

Accounting

The part of accounting that involves recording transactions and events,either electronically or manually.

Internal users

Persons using accounting information who are not directly involved in the running of the organization.

Recordkeeping

Beliefs that distinguish right from wrong.

Operating activities

Persons using accounting information who are directly involved in managing the organization.

Ethics

Concern for the impact of actions on society.

Investing activities

The use of resources to research,develop,purchase,produce,distribute,and market products and services.

Social responsibility

The acquisition and disposing of resources that an organization uses to acquire and sell products and services.

Financing activities

Premises:

Provide the means organizations use to pay for resources such as land,buildings,and equipment to carry out plans.

An information and measurement system that identifies,records and communicates relevant reliable and comparable information about an organization's business activities.

The part of accounting that involves recording transactions and events,either electronically or manually.

Persons using accounting information who are not directly involved in the running of the organization.

Beliefs that distinguish right from wrong.

Persons using accounting information who are directly involved in managing the organization.

Concern for the impact of actions on society.

The use of resources to research,develop,purchase,produce,distribute,and market products and services.

The acquisition and disposing of resources that an organization uses to acquire and sell products and services.

Responses:

External users

Accounting

Internal users

Recordkeeping

Operating activities

Ethics

Investing activities

Social responsibility

Financing activities

Correct Answer:

Premises:

Responses:

Provide the means organizations use to pay for resources such as land,buildings,and equipment to carry out plans.

An information and measurement system that identifies,records and communicates relevant reliable and comparable information about an organization's business activities.

The part of accounting that involves recording transactions and events,either electronically or manually.

Persons using accounting information who are not directly involved in the running of the organization.

Beliefs that distinguish right from wrong.

Persons using accounting information who are directly involved in managing the organization.

Concern for the impact of actions on society.

The use of resources to research,develop,purchase,produce,distribute,and market products and services.

The acquisition and disposing of resources that an organization uses to acquire and sell products and services.