Solved

Match the Following Terms with the Appropriate Definition

Question 269

Matching

Match the following terms with the appropriate definition.

Premises:

Responses:

Social responsibility

Provide the means organizations use to pay for resources such as land, buildings and equipment to carry out plans

Ethics

The use of resources to research, develops, purchase, produce, distribute and market products and services

Cost principle

Persons using accounting information who are directly involved in managing the organization

Investing activities

Persons using accounting information who are not directly involved in the running of the organization

Recordkeeping

An information and measurement system that identifies records and communicates relevant, reliable and comparable information about an organization's business activities

Accounting

Concern for the impact of actions on society

External users

. The acquisition and disposing of resources that an organization uses to acquire and sell products and services

Operating activities

The part of accounting that involves recording transactions and events, either electronically or manually

Financing activities

Beliefs that distinguish right from wrong

Internal users

The idea that accounting information is based on actual cost

Premises:

Social responsibility

Ethics

Cost principle

Investing activities

Recordkeeping

Accounting

External users

Operating activities

Financing activities

Internal users

Responses:

Provide the means organizations use to pay for resources such as land, buildings and equipment to carry out plans

The use of resources to research, develops, purchase, produce, distribute and market products and services

Persons using accounting information who are directly involved in managing the organization

Persons using accounting information who are not directly involved in the running of the organization

An information and measurement system that identifies records and communicates relevant, reliable and comparable information about an organization's business activities

Concern for the impact of actions on society

. The acquisition and disposing of resources that an organization uses to acquire and sell products and services

The part of accounting that involves recording transactions and events, either electronically or manually

Beliefs that distinguish right from wrong

The idea that accounting information is based on actual cost

Correct Answer:

Premises:

Responses:

Social responsibility

Ethics

Cost principle

Investing activities