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Business
Accounting
Accounting i

Accounting i

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Which of the following is not true? Select one: O a. Accounting is a communication tool that is useful to both internal and external decision-makers. O b. Accounting is not an exact science. O c. Accounting is the language of business. O d. Accounting is useful only to profit-oriented organizations.
Transcribed Image Text:Which of the following is not true? Select one: O a. Accounting is a communication tool that is useful to both internal and external decision-makers. O b. Accounting is not an exact science. O c. Accounting is the language of business. O d. Accounting is useful only to profit-oriented organizations.
Which of the following is more appropriate definition for Accountancy? Select one: Accountancy refers to the art of classifying the recorded transactions under their respective accounts O b. Accountancy refers to the systematic knowledge of accounting. Accountancy refers to the process of recording financial transactions in the order of their occurrence O d. Accountancy refers to the art of communicating the financial transactions to accounting users
Transcribed Image Text:Which of the following is more appropriate definition for Accountancy? Select one: Accountancy refers to the art of classifying the recorded transactions under their respective accounts O b. Accountancy refers to the systematic knowledge of accounting. Accountancy refers to the process of recording financial transactions in the order of their occurrence O d. Accountancy refers to the art of communicating the financial transactions to accounting users
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