Instructions: Identify the Following Terms

question 24

Short Answer

Instructions: Identify the following terms.
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Definitions:

Objective Measures

Quantitative assessments that are based on observable data and are not influenced by personal feelings or opinions.

Subjective Estimates

Judgments or opinions used in decision-making or accounting that are based on personal feelings or beliefs rather than on precise measurement.

Financial Accounting

The field of accounting that focuses on the summary, analysis, and reporting of financial transactions pertaining to a business to external users.

Managerial Accounting

The area of accounting focused on providing financial data and advice to company managers for decision-making purposes.