ASOBAT Emphasized Which of the Following in Its Definition of Accounting

question 54

Multiple Choice

ASOBAT emphasized which of the following in its definition of accounting?

• A)The creative ability of the accountant
• B)The work and skill of the accountant
• C)The needs of the users of accounting information
• D)Recording transactions

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Definitions:

Journalize Transactions

The process of recording business transactions in the journal as part of the accounting cycle.

Stock Split

An action by a company to increase the number of its outstanding shares by issuing more shares to current shareholders, thus reducing the price per share without changing the company’s market capitalization.

Common Stock

Represents ownership shares in a corporation, giving holders voting rights and a share in the company’s profits through dividends.

Market Price

Today's market price for trading an asset or service.