Is it true that the basic objective of accounting is to provide quantitative financial information about an entity that is useful in making rational economic decision?

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CHAPTER 1-Framework Accounting
I. TRUE or FALSE Instruction: Before each statement, write TRUE if the statement is correct or FALSE if the statement is incorrect. 1) Financial information is a quantitative information. 2) Quantitative information is expressed in units and numbers. 3) All types of events are recorded in the accounting books. 4) Auditing is a process of identifying, recording and communicating economic information tha is useful in making economic decision. 5) The basic objective of accounting is to provide quantitative financial information about an entity that is useful in making rational economic decision. 6) Marketing is responsible in creating value for customer and building strong customer relationships. 7) Management is a process of establishing common objectives, coordinating efforts towards those objectives, and efficiently and effectively utilizing available resources to achieve certain goals. 8) As a practical art, accounting is a body of knowledge which has been systematically gathered, classified and organized. 9) Bookkeeping and accounting are synonymous. 10) Accounting is often referred to as a “Language of business” because it is fundamental to the communication of financial information.
TRUE OR FALSE The basic objective of accounting is to provide quantitative financial information about an entity that is useful in making rational economic decision
What is the basic purpose of accounting A to provide quantitative financial information about economic activities?
What is the basic objective of accounting?
Is a service activity whose function is to provide quantitative information about economic entities?
Is a service activity Its function is to provide quantitative information primarily financial in nature about economic activities?

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CHAPTER 1-Framework Accounting

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Published 17.02.2022 08:55 on the subject Economics by camillebalajadia

I. TRUE or FALSE Instruction: Before each statement, write TRUE if the statement is correct or FALSE if the statement is incorrect. 1) Financial information is a quantitative information. 2) Quantitative information is expressed in units and numbers. 3) All types of events are recorded in the accounting books. 4) Auditing is a process of identifying, recording and communicating economic information tha is useful in making economic decision. 5) The basic objective of accounting is to provide quantitative financial information about an entity that is useful in making rational economic decision. 6) Marketing is responsible in creating value for customer and building strong customer relationships. 7) Management is a process of establishing common objectives, coordinating efforts towards those objectives, and efficiently and effectively utilizing available resources to achieve certain goals. 8) As a practical art, accounting is a body of knowledge which has been systematically gathered, classified and organized. 9) Bookkeeping and accounting are synonymous. 10) Accounting is often referred to as a “Language of business” because it is fundamental to the communication of financial information.

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Published 03.11.2020 10:55 on the subject Technology and Home Economics by pauyonlor

TRUE OR FALSE The basic objective of accounting is to provide quantitative financial information about an entity that is useful in making rational economic decision

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What is the basic purpose of accounting A to provide quantitative financial information about economic activities?

The basic purpose of accounting is to provide information about economic activities intended to be useful in making economic decision. 4. Financial accounting is the branch of accounting that focuses on general purpose reports of financial position and operating results known as the financial statements.

What is the basic objective of accounting?

The main objectives of accounting are maintaining a complete and systematic record of all transactions and analyzing the financial position of a business. Every individual or a business concern is interested to know the results of financial transactions and their results are ascertained through the accounting process.

Is a service activity whose function is to provide quantitative information about economic entities?

Accounting is a service activity and its function is to provide quantitative information, primarily financial in nature, about economic entities, that is intended to be useful in making economic decision.

Is a service activity Its function is to provide quantitative information primarily financial in nature about economic activities?

Accounting is a service activity. Its function is to provide quantitative information, primarily financial in nature, about economic entities that is intended to be useful in making economic decisions.