Which is the last step of accounting as a process of information? Select one: O a. Preparation of financial statement O b. Analysis and interpretation of information O c. Recording the transaction O d. Communication of information

Q: hat are the accounting information needed by: a. Internal users b. External users

A: Accounting Information:- This is that information that is required by both external and internal…

Q: accounting is defined as the practice of keeping records of transactions and their

A: Accounting is the systematic recording, measuring, and reporting of all financial data. It is the…

Q: The principles and objectives that guide the creation of accounting information under accrual…

A: The matching principle, which is related to accrual accounting, asserts that an expense must be…

Q: plain what’s manage define accounting and describe nature and objective of accounting.

A: Accounting is primarily concerned with identifying, recording, measuring, summarizing transactions…

Q: What is accounting. List the functions of accounting

A: The process under which a track of all the business transactions is kept is referred to as…

Q: Explain the purpose of the accounting cycle and the steps involved in it.

A: The accounting cycle refers to the series of steps that a company follows to record, analyze, and…

Q: information would include ........ .

A: External users are people outsidebusiness entity who use accounting information.external users are…

Q: What do the decisions based on accounting information include?

A: Accounting information is the collection and processing of the business transaction to conclude the…

Q: collection

A: Ans. Inductive approach is merely a reasoning method by which a law or general principle is…

Q: Prepare a comment in which you explain what an accounting transaction consists of, and what are its…

A: Accounting Transaction is any business transaction that affects company's financial statements and…

Q: ow the external will use the accounting information to do decisions

A: Accounting information can be defined as the financial reports and data produced by way of…

Q: What type of internal and external accounting reports will you use in the process of making…

A: Internal accounting reports are managerial reports which are generated for use by managers at…

Q: How does the accounting cycle work, and what are the key steps involved in recording, summarizing,…

A: A set of procedures known as the accounting cycle is used by firms to record, compile, and present…

Q: How does the accounting cycle work, and what are the key steps Involved in the process?

A: The accounting cycle refers to the sequence of steps that businesses follow to record financial…

Q: xplain the accounting process in det

A: Answer: Accounting process is the process which involves maintaining books of accounts and record…

Q: What is the relevance of the Accounting Information System in the present practice of accounting?

A: Accounting Information System: An accounting information system (AIS) is a framework that a company…

Q: What is the main fundamental operation in Accounting? Explain the process

A: Accounting: Accounting is the practice of keeping track of a company's financial activities.…

Q: An accounting policy is

A: Accounting policy are not judgement applied to record a transaction. Accounting estimates are…

Q: When it comes to accrual accounting, what do you name the principles and goals that influence the…

A: It is required that a cost be recorded in the same period as the corresponding income is collected…

Q: How does IFRS APPLY TO THE ACCOUNTING CYCLE AND FINANCIAL REPORTING?

A: IFRS - International Financial Reporting Cycle is the standard set by the IASB (International…

Q: Who are the èxternal user's of accounting information

A: The accounting information is used by the external user and internal user. The External users are…

Q: What are the Elements of the accounting equation? Describe about it.

A: Accounting equation: Accounting equation is an accounting tool expressed in the form of equation, by…

Q: Identify steps in the accounting cycle.

A: Accounting cycle: Accounting cycle is a step by step process that starts with the analyzing the…

Q: what are quick assets in accounting?

A: The objective of the question is to understand the concept of quick assets in the field of…

Q: What is the basic principles of Accounting Information Systems (AIS)?

A: Since you have asked multiple questions, we will solve the first question for you. If you want any…

Q: What are the roles of transaction in accounting?

A: The transactions are the business events that can be measured in monetary form.

Q: Describe about the external and internal events of the accounting.

A: An Accounting event is a transaction that is recorded in the books of accounts of the company. The…

Q: The reporting of accounting theory is related to ........ Select one : a . Principles b .…

A: Accounting refers to the process of systematic recording of the transactions of the business. Such a…

Q: What do the accounting equation's elements entail? Give an explanation.

A: Accounting equation:  An accounting equation is a tool that creates a link between a company's…

Q: Classify the following activities as part of the identifying (I), recording (R), or communicating…

A: Identifying function: helps the organization to select from its business activities, the…

Q: Which of the following items is considered an original source document? Select one: a. accounts…

A: Source document In general source document which are used for the business transaction of the entity…