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What else can I help you with?
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 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.
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
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.
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 must be true of every correct accounting entry?
Every correct accounting entry must adhere to the double-entry accounting system, meaning it must have equal debits and credits to ensure that the accounting equation (Assets = Liabilities + Equity) remains balanced. Additionally, each entry must be properly documented with relevant supporting evidence, such as invoices or receipts, to maintain accuracy and transparency. Lastly, entries must be recorded in a timely manner, reflecting the actual financial transactions of the organization.
In order to be cost effective information must be what?
In order to be cost-effective, information must be relevant, accurate, and timely. It should provide actionable insights that directly contribute to decision-making or operational efficiency, minimizing unnecessary expenditure. Additionally, the process of gathering and analyzing this information should be efficient to ensure that the costs do not outweigh the benefits derived from its use.
