Mie Chap 14

Organizations evaluate their operations through the recording, measurement, and interpretation of financial information. This process is known as _______.
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Organizations evaluate their operations through the recording, measurement, and interpretation of financial information. This process is known as _______.
accounting
what characterizes a certified public accountant?
-May provide opinions regarding the accuracy of financial statements
-May complete audits of corporate financial records
-May file tax returns
What is the main distinguishing factor between accountants and bookkeepers?
Accountants analyze and interpret financial information and bookkeepers do not.
The internal use of accounting statements by managers in planning and directing the organization's activities is referred to as ______.
managerial accounting
_____ is an intangible asset that reflects an organization's positive reputation.
Goodwill
True or false: People both inside and outside of an organization use accounting tools to evaluate organizational operations.
true
Double-entry bookkeeping strives to maintain the ______ of the accounting equation.
balance
An individual who has been certified by the state in which he or she practices and has the right to express, officially, an unbiased opinion regarding the accuracy of a client's financial statements works as a(n) _____.
certified public accountant
Heather works at Big City Bus Corp. It is her job to record the day-to-day financial transactions of the company, including paying utilities and accepting bill payments. Heather works as a _____.
bookkeeper
The internal use of accounting statements by managers in planning and directing the organization's activities is known as ..
managerial accounting