BUSINESS ADMINISTRATION
FINANCIAL ACCOUNTING
|
Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
|
|
|
The nature of economic activities that accounting information describes.
|
|
|
The assumptions and measurement techniques involved in developing accounting information.
|
|
|
Which information is relevant for a particular type of decision that is being made.
|
|
|
All of the above.
|
Detailed explanation-1: -The information communicated by accounting is very important for its users, because it will affect on making an economic decision. This information must meet the qualitative characteristics, so we have to be accurate, valid and useful so that users trust its quality and authenticity.
Detailed explanation-2: -Most of the decisions that are made in the process of work rely on information obtained from accounting. It means the accounting information plays an important part in the overall economic system of registration but also in the economic information system, especially for decision making necessary for the business.
Detailed explanation-3: -Components of an Accounting Information System (AIS) are: People, Data, Software, Procedure, Information Technology and Internal Controls.