WEEK 1

Question 1

the process of identifying, measuring, and communicating financial information to allow users to make informed judgments and decisions

Answer 1

ACCOUNTING

Question 2

responsible for developing and maintaining accounting records

Answer 2

BOOK KEEPER

Question 3

supplies financial information to make informed judgments and better decisions. addresses the essence of accounting: the “decision-usefulness” of data

Answer 3

ACCOUNTANT

Question 4

give the sequence of history of accounting

Answer 4

Mesopotamian Era
Luca Pacioli
Industrial revolution
Queen Victoria of British Empire

Question 5

Who is the father of accounting

Answer 5

Luca Pacioli

Question 6

an independent undertaking where the information from a completed accounting process is evaluated to determine whether it abides with established accounting standards

Answer 6

Auditing

Question 7

All the processes that an accountant undergoes and accomplishes are used by the business organization and its units in day-to-day operations.

Answer 7

SERVICE ACTIVITY

Question 8

It is a step-by-step and systematic procedure to produce results relevant to the management and other potential users.

Answer 8

PROCESS

Question 9

It measures business activities, processes information into reports, and communicates these to decision-makers.

Answer 9

INFORMATION SYSTEM