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BUS 475 Final Exam 100 Questions with Answers 3rd Set
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1. Which of the following is the most appropriate and modern definition of accounting?A) The information system that identifies, records, and communicates the economic events of an organization to interested usersB) A means of collecting informationC) The interconnected network of subsystems necessary to operate a businessD) Electronic collection, organization, and communication of vast amounts of information2. Which of the following groups uses accounting information primarily to insure the entity is operating within prescribed rules?A) Taxing authoritiesB) Regulatory agenciesC) Labor UnionsD) Management3. Which of the following would not be considered an internal user of accounting data for a company?A) The president of a companyB) The controller of a companyC) Creditor of a companyD) Salesperson of a company4. Stockholders' equity is increased byA) DividendsB) RevenuesC) ExpensesD) Liabilities5. The left side of an account isA) BlankB) a description of the accountC) the debit sideD) The balance of the account
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