Matching
Match the following terms with the appropriate definition:
Premises:
Financing activities
Ethics
Recordkeeping
Investing activities
Accounting
Operating activities
Social responsibility
Cost principle
Internal users
External users
Responses:
An information and measurement system that identifies, records, and communicates relevant, reliable, and comparable information about an organization's business activities.
Concern for the impact of actions on society.
The acquisition and disposal of resources that an organization uses to acquire and sell products and services.
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.
Beliefs that distinguish right from wrong.
Persons using accounting information who are directly involved in managing the organization.
The part of accounting that involves recording transactions and events, either electronically or manually.
Source of the means organizations use to pay for resources such as land, buildings, and equipment to carry out plans.
The use of resources to research, develop, purchase, produce, distribute, and market products and services.
Correct Answer:
Premises:
Responses:
Financing activities
Ethics
Recordkeeping
Investing activities
Accounting
Operating activities
Social responsibility
Cost principle
Internal users
External users
Premises:
Financing activities
Ethics
Recordkeeping
Investing activities
Accounting
Operating activities
Social responsibility
Cost principle
Internal users
External users
Responses:
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