PREVIEW: Accounting 100 Quiz 4
1. All changes in account balances are caused by transactions between the business and another business or individual.
X True False P. 125 some changes are not caused by transactions with businesses or individuals
PREVIEW: Accounting 100 Quiz 2
1. The purpose of accounting is to provide financial information about an economic or social entity.
X True False
2. An accounting system is designed to accumulate and classify data about a firm's financial affairs