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Functions of Accounting Flashcards | StudBud
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Functions of Accounting
Functions of Accounting
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StudBud Administration
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Intro to functions of accounting
Flashcards
9 cards
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Practice quiz
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Host live
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Questions
9
Answers
1
What if the firm's credit customers do not pay on time?
Provide information for decision making
Assist in discharging accountability
2
Should the business hire more staff?
Assist in decision making
Assist in discharging accountability
Assist in evaluating performance
3
Should the owner invest in stock market?
Assist in discharging accountability
Help in evaluating performance
Provide information for decision making
4
Based on the current financial condition, should the business continue its operation?
Assist in discharging accountability
Provide information for decision making
5
Is the firm's profit improving or worsening?
Help in evaluating performance
Assist in discharging accountability
6
How much money can the owner withdraw from the business?
Assist in discharging accountability
Provide information for decision making
7
All payments to suppliers must be supported by invoices and other relevant documents.
Help in evaluating performance
Assist in discharging accountability
Provide information for decision making
8
Cash received from customers must be banked in daily
Assist in discharging accountability
Provide information for decision making
Help in evaluating performance
9
Can the firm meet its repayment of borrowing when it falls due?
Provide information for decision making
Help in evaluating performance
Assist in discharging accountability
