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Timely and accurate.
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∙ 16y ago
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In order to be useful a source must have information that?
Relevant
In order to be useful a source must have information that is .?
Relevant
What is the purpose of producing accounting information?
The primary purpose of accounting information is to provide useful information to help people make decisions.Stakeholders of a company are interested in the financial performance of that company, and therefore require accounting information in order to assess the company's well-being.In order for accounting information to be useful, it must be:UnderstandableRelevant/TimelyReliable/VerifiableComparable
What is the criteria for effective accounting system?
In order for an accounting system to be considered effective it must meet 3 criteria. It must provide accurate information, have useful information, and be presented in a timely manner.
Why are ethics crucial to accounting?
Accounting aims to provide useful information for decision-making. For information to be useful, it must be trusted. Trustworthiness of information demands ethics in accounting.
In order to be a successful tax attorney, he must have a strong background in accounting. ?
In order to be a successful tax attorney, he must have a strong background in accounting.
Who uses accounting information?
Many people use accounting information including investors, government entities and shareholders. Since so many people use accounting information, the reports must be accurate.
To be relevant accounting information must a. be capable of making a difference in a decision. b. be presented on the balance sheet. c. be recorded at historical cost. d. improve the companys internal?
The answers a,b, and c are correct.
What must you include in a pay slip?
all the relevant information from your employer.
Why is it important tha information must be relevant?
Relevant information ensures that it is useful and applicable to the situation at hand, enabling better decision-making and problem-solving. It helps to avoid confusion, saves time, and allows individuals to focus on what is important.
Of what must the accountant be cognizant in order to compile financial statements?
the form of its accounting records, the stated qualifications of its accounting personnel, the accounting basis on which the financial statements are to be presented
What personal trait must those entering accounting possess?
Accountants must be individuals of high integrity so that the financial information they prepare is viewed as trustworthy by the users of the information.
