1. Introduction to Accounting

Accountants not only provide financial information to the firm, they also:

Which of the following is considered an accounting error?

Part A of a homeowner insurance policy will cover damages to which of the following assets?

Which type of accounting primarily involves the use of documents such as invoices, spreadsheets, time sheets, and records of transactions?

In financial accounting, what term do investors commonly use to refer to the shares they own in a corporation?

Which two primary activities are typically carried out by members of a stock exchange such as the NYSE?

Which type of accounting focuses on reporting a stated amount of income or assets, rather than estimating values?

Which type of credit is described as one where the lender does not require the borrower to provide a security deposit or collateral?

Which accounting concept is violated if a company records personal expenses of the owner as business expenses?

Which type of accounting primarily focuses on providing information to internal users for decision-making purposes?

In the context of financial accounting, how does using credit instead of cash affect a consumer's financial leverage, and why?

Which type of accounting relates to all of the different money decisions you make each day?

Which type of accounting is primarily concerned with providing information to internal users for decision-making purposes?

Which of the following is the typical risk equation used in accounting and finance?

Which of the following best describes accounting?