Introduction to Accounting

The definition "Accounting is the process of identifying, measuring, and communicating economic information." came from which organization?

Who is considered as the father of modern accounting?

What is the starting point of the accounting process?

It is the preparation and presentation of financial information for internal users in order to have a sound decision-making.

Transactions and events that cannot be measured in money terms are not recorded in the books of accounts.

We record ___________in the books of accounts.

Which of the following is not a branch of accounting?

This user of the financial statements is concerned mostly with the liquidity of business.

Who among the following users of financial statements is concerned with the solvency of the business?

A user of financial statement who is concerned with the performance of the business and its ability to give returns.