An Organization That Seeks to Operate Efficiently and Effectively to Achieve

question 90

Multiple Choice

An organization that seeks to operate efficiently and effectively to achieve its goals without focusing on financial gains is a ________.

• A) business intermediary
• B) nonprofit organization
• C) service business
• D) government-owned corporation
• E) goods-producing business

Explain the utility and types of accounting software in financial management.

Prepare adjusting entries for year-end financial statement preparation.

Understand the differences between changes in accounting principles, estimates, and errors.

Identify the appropriate treatment for changes in accounting principles, including retrospective and prospective applications.

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Definitions:

Menus

Lists of options or commands presented to users within a software or system.

QBB File

A QBB file is a backup file format used by QuickBooks, a popular accounting software, to store financial data and backups of company files.

QBW File

A file type used by QuickBooks desktop software to store financial data, including transactions, accounts, and business information, essential for managing a company's books.

QuickBooks Home Page

The main interface in the QuickBooks accounting software, providing quick access to its various features and functions.