Reporting the effects of economic events and transactions to users of financial information is an example of accounting’s

Which items relate(s) to a characteristic of accounting based on its activity or nature (choose all that apply)?

Which item below is a defining characteristic of accounting?

Between a manufactured product and the service accounting provides, the output of accounting is easier to measure because it is an intangible and can be easily inspected and evaluated.

A series of steps that is coordinated, rhythmic, and recurring is indicative of a(n)

Which situations below demonstrate the analytic discipline of accounting?

A painting by a 14th century artist was purchased as part of an art collection. Some people questioned the amount paid, while others defended it as a smart investment, expressing various opinions about the true value of the investment. What characteristic of accounting is alluded to here?

One of the items below can be done just as well even without a formal system.

Because accounting also observes orderly procedures in the process of providing information, it is also described as a(n)

Which item is not part of an accounting system?

Information is necessary in order to

Which among the items below has something to do with customer expectation and quality?

The service that accounting performs

The quantitative nature of accounting refers to the use of money as a measure of value.

The use of numbers explains the financial nature of accounting.

The product of accounting is an intangible, which means that it does not involve items or products with physical qualities and attributes.

The primary product of accounting includes making recommendations to users of information.

Which situation below illustrates the analytic discipline characteristic of accounting?

The quality of financial information provided by accounting cannot be judged because it is an intangible.

The use of numbers explains the quantitative nature of accounting.

A manager is using accounting information to determine the relationship between the total sales and promotional expenses.  What accounting characteristic is alluded to?

Just like any other service activity, accounting has customers to satisfy. These customers will most likely judge the value of the service by the quality of the information that accounting provides.

Accounting records events and transactions. This information is reported and communicated to users, who in turn will use the information as basis for further study and interpretation. This is an illustration of which characteristic?

When accounting is referred to as a communication activity, it is because

Accounting has been using numbers since the beginning. Which of the following statements is accurate?

One of the choices below is not characteristic of accounting, based on its definition, nature or activity.

Using Arabic numerals is more convenient than using Roman numerals. This widespread use of Arabic numerals explains this characteristic of accounting.

Because of its service nature, accounting has customers to satisfy. Who are these customers?

A good basis for decision making

Accounting is an activity that

This characteristic of accounting refers to the process of reducing data and information to a few understandable and highly significant items.

The primary product of accounting is (a)

America was introduced to accounting later than England and Scotland. However significant developments powered America into becoming the world’s biggest economy. What factors contributed to America’s dominance?