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Three keywords about "Accounting" that we learned in class are 1) measurement, 2) processing, and 3) communication.
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- For which type of learning outcomes would be the essay test be least useful?A. Understanding of accounting principlesB. Thinking skillsC. Organization of ideasD. Knowledge of factsE. Application of accounting principlesWhich of the following is a fundamental characteristic of accounting information? Select one: O A. Predictive Value O B. Completeness OC. Faithful Representation O D. Comparability Tin FinishExplain what it means to say that an accounting class is not the same as a math class.
- Accounting as a social science is viewed as information system. ExamineWhich of the following are the fundamental characteristics of accounting information? O a. Predictive value and feedback value. Ob. Relevance and faithful representation. Oc Relevance and verifiabilily. Od. Timeliness and understandability. O e. Verifiability and taithful representation.What are some of the shortcomings of teaching accounting only as a skill?
- in your own words, what is accounting information system (AIS)? List and discuss the three sub system of AIS and identify which one you consider the most important of the three and state why?Management accounting data are expected to be objective and verifiable. Select one: O True FalseMultiple choice: 1. Which of the following is one of the fundamental qualitative characteristics? A. Comparability B. Timeliness C. Verifiability D. Relevance 2. This branch of accounting focuses on catering to the information needs of external users A. Management accounting B. Auditing C. Financial accounting D. External accounting
- The basic Objective of the management accounting is to supply the accounting information to the.........According to the Conceptual Framework, qualitative characteristics of accounting information are essential to assist decision making process. In your own words, explain: a. How to fundamental qualitative characteristics of accounting information enable the management decision making process? b. The trade-off between fundamental qualitative characteristics and enhancing qualitative characteristics (at least TWO)?The field of accounting that focuses on providing information for external decision makers is A. managerial accounting B. nonmonetary accounting OC. financial accounting OD. cost accounting