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- Which of the following best describes the difference between financial accounting and tax accounting? Financial accounting is what managers use for internal, decision making purposes while tax accounting is used for creditors, investors, and the general public. They are both used for income tax reporting purposes, and they are both required by the SEC to be issued and made public so that they can be used by creditors, investors, and the general public Financial accounting is used for income tax reporting purposes and tax accounting is used by managers for internal, decision making purposes. Financial accounting is used by creditors, investors, and the general public, while tax accounting is used for income tax reporting purposes None of these answers is correct1. Define and explain each qualitative characteristics of useful financial information: Verifiability Timeliness Understandability Comparability 2. Differentiate the types of business according to its activity: Service business Merchandising business Manufacturing businessPlease help me with my journal, I am accountancy student and recently got my ojt in one of the government agency in the Philippines which is Department of Trade and Industry.
- List and describe the five most common functions of business reports?Why do the finance officers need to understand the other functional areas of the business and why do they need to have a good communication skill?Returns means Select one: a. A sum of money borrowed in a bank b. The money invested in a business c. Money placed in a bank d. The profits made on investments
- "The financial manager should have sound knowledge not only in finance but also well versed in other areas of activity", is a function of: a. Acquiring necessary capital O b. Inter-relation with other departments c. Making investments O d. Cash managementHow can a firm manage negative publicity or a crisis situation effectively?How can a world-class information system yield a paperless environment?
- give least 5 types(kinds) of business letters. briefly explain each types.Which of the following would not be important in examining the firm's build-up of accounts receivable, cash and current assets? a. A brief cash budget b. Cash receipts and cash payments schedules c. income statement d. sales forecastWhat is the purpose of a database? What is so special about a database that sets it apart from spreadsheets and collections of documents and makes it so much better than the alternatives?