What is accounting? What is the purpose of accounting?
What will be an ideal response?
Accounting is the process of identifying, measuring, and communicating financial information about a company to decision makers both internal and external. Many parties, both internal and external, want to know how the company is doing so they can make decisions about what they should do. For instance, managers want to know how profitable the company is, where they are spending money, and the efficiency of operations. External investors want to know the financial health of the company, whether it will be a good investment, and is it a good risk.
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Cung leads the design team at Rapidware, a software firm that deigns custom software to meet its clients' needs. He needs to hire an employee to recognize when new approaches are needed and to learn what clients need and quickly come up with an innovative way to serve them. Which of the following candidates would best meet Cung's requirements?
A. Jennifer, a methodical worker who defines herself by her career success B. Gage, a very successful worker who is self-proclaimed "old school" C. Lanny, a fast worker who forces others to do things his way D. Gale, a lovable character who encourages and helps everyone E. Rico, a curious person who loves art and buys the latest gadgets
The dimension of personality from the Big Five model that focuses on being outgoing, sociable, assertive, and talkative is
a. Openness to Experience b. Conscientiousness c. Neuroticism d. Extraversion
Answer the following statements true (T) or false (F)
1. Increased globalization and financialization of world markets has created greater appreciation for country's unique differences and has allowed for greater preservation of unique social and political systems, cultures, standards, and ways of life. 2. Financialization is a phenomenon that can largely be explained by banking regulations, corporate governance rules, and private equity rules. 3. The phrase, "The world is flat," refers to the idea that information technology gives people from all corners of the world the opportunity and ability to compete in a global economy. 4. The cross-border flow of goods and services is called international trade. 5. One of the key benefits of international trade is that it allows consumers and producers to benefit by exploiting each country's comparative advantage.
The primary function of the monthly income and expense plan is to assure that each month's income is not less than each month's expenses
Indicate whether the statement is true or false