1. Introduction to Accounting

Which of the following is NOT a type of accounting commonly recognized in the field of financial accounting?

Which type of accounting is primarily concerned with preparing information for tax authorities and ensuring compliance with tax laws?

Kamal sold cryptocurrency in 2021. Which form or schedule should he use to report the income from this sale on his U.S. federal tax return?

7. Which type of accounting would be most relevant for a company evaluating whether Lily can obtain a title loan while still paying off her vehicle loan, and why?

Which of the following is included in the compensation of employees in financial accounting?

Savings accounts typically offer more interest than which type of account?

Which type of accounting is primarily concerned with the legal process that gives the insurer the right to pursue a third party after payment of a loss?

Which of the following is an example of a current asset?

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

Which of the following is NOT a temporary account in financial accounting?

Which type of accounting most commonly uses asset utilization ratios to evaluate the effectiveness of a firm's managers?

Which of the following is an example of a business’s ethical obligation to its stakeholders?

Which type of business is primarily motivated to earn a profit?

Which of the following is a primary purpose of the accounting process in a business?

2. In managerial accounting, which type of cost do managers typically have more control over, and why?