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Financial Accounting Exam Quiz
Financial Accounting Exam Quiz
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What is the definition of Accounting according to AICPA, 1941?
A.
The process of identifying, measuring, and communicating economic information to permit informed judgments and decisions by users of the information.
B.
The art of recording, classifying, and summarizing in a significant manner, in terms of money, transactions and events which are, in part at least, of a financial character, and interpreting the results thereof.
C.
The study of how transactions affect business performance.
D.
A universal, flexible, subjective information and control system, determined by the balance sheet method, serving as a related cognitive method.
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