D196 - Principles of Financial and Managerial Accounting

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4 Terms

1
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Accounting plays a vital role in the decision-making process. Which action is the first step in the decision-making process? 

Identify the issue. 

2
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The money that a company needs to buy its land, pay its employees, and buy its supplies is called capital. What are the potential sources of capital for a business? 

Investors, creditors, and retained business earnings. 

3
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True or False: Accountants measure and communicate the results of business activities. 

True 

4
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Which primary area of accounting generates reports for internal users? 

Management accounting