Business Essentials Exam Review 401-402

The overall purpose of accounting is to

Which of the following groups makes regular use of a business's managerial accounting information?

If employees are able to use a business's accounting system to steal money from the business, the system lacks:

Accounting is distinct from finance because its main focus in on

Finance is the business function that involves managing

Which of these categories of information are found on a balance sheet?

The process of keeping the financial records of a business is knows as

Which operations activity is also referred to as procurement?

The operations function consists mainly of activities that are performed on a _____ basis

Which is an example of one of a business's inputs?

A useful accounting system's information must be

Checks, receipts, invoices, and purchase orders are examples of