Matching
Match the following terms with the appropriate definition:
Premises:
The acquisition and disposal of resources that an organization uses to acquire and sell products and services.
An information and measurement system that identifies, records, and communicates relevant, reliable, and comparable information about an organization's business activities.
Persons using accounting information who are directly involved in managing the organization.
The use of resources to research, develop, purchase, produce, distribute, and market products and services.
Concern for the impact of actions on society.
The idea that accounting information is based on actual cost.
Persons using accounting information who are not directly involved in the running of the organization.
The part of accounting that involves recording transactions and events, either electronically or manually.
Beliefs that distinguish right from wrong.
Source of the means organizations use to pay for resources such as land, buildings, and equipment to carry out plans.
Responses:
Accounting
Financing activities
Recordkeeping
Operating activities
Internal users
Social responsibility
Ethics
Cost principle
Investing activities
External users
Correct Answer:
Premises:
Responses:
The acquisition and disposal of resources that an organization uses to acquire and sell products and services.
An information and measurement system that identifies, records, and communicates relevant, reliable, and comparable information about an organization's business activities.
Persons using accounting information who are directly involved in managing the organization.
The use of resources to research, develop, purchase, produce, distribute, and market products and services.
Concern for the impact of actions on society.
The idea that accounting information is based on actual cost.
Persons using accounting information who are not directly involved in the running of the organization.
The part of accounting that involves recording transactions and events, either electronically or manually.
Beliefs that distinguish right from wrong.
Source of the means organizations use to pay for resources such as land, buildings, and equipment to carry out plans.
Premises:
The acquisition and disposal of resources that an organization uses to acquire and sell products and services.
An information and measurement system that identifies, records, and communicates relevant, reliable, and comparable information about an organization's business activities.
Persons using accounting information who are directly involved in managing the organization.
The use of resources to research, develop, purchase, produce, distribute, and market products and services.
Concern for the impact of actions on society.
The idea that accounting information is based on actual cost.
Persons using accounting information who are not directly involved in the running of the organization.
The part of accounting that involves recording transactions and events, either electronically or manually.
Beliefs that distinguish right from wrong.
Source of the means organizations use to pay for resources such as land, buildings, and equipment to carry out plans.
Responses:
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