Chapter 1 Quiz Acctg Capstone
1.Which of the following is not a characteristic or limitation of the kind of
information that financial reporting by business enterprises can provide?
The information results in approximate, rather than exact, measures.
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Financial Statements and Accounting Concepts/Principles
Multiple Choice Questions
1. Which of the following is not a transa
Data - Raw facts about events that have little organization or meaning.
Information Data that is meaningful or useful Data must be processed into useful information. An
example is to take raw scores from a class exam and compute the class average.