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D196 study guide stuvia - Study guides, Class notes & Summaries

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D196 Study Guide Questions With Correct Answers

  • D196 Study Guide Questions With Correct Answers

  • Exam (elaborations) • 3 pages • 2023
  • What is the role and purpose of accounting? -ANSWER Accounting is used to accumulate, measure, and communicate financial information about organizations. This information is used to make informed decisions regarding resource usage and allocation. Who uses accounting information and why? -ANSWER Managerial Accounting: Internal decision making (managers, CEO's, supervisors, etc.) Financial Accounting: External user benefit (stakeholders, investors, tax authorities, etc.) What are important...
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