Question

COMPLETE THE SENTENCES WITH APPROPRIATE TERMS


--------------------------- is a language of business and measures

business activity and process accounting data into ------------------------.

------------ provides information to users ----------------- the business for

informed decision making. -----------------------provides information to users

inside the business for decision worthy information. ------------------- report

the results of business in monetary terms. Useful information must be

--------------------------- and -------------------​

Answer 1

Explanation:

1 Accounting is often called the “Language of business.” It is a means of communicating information about a business. ... To operate a business profitably and to stay solvent, the profitability and solvency of a business should be measured at regular intervals.

3 General-purpose financial statements provide much of the information needed by external users of financial accounting. These financial statements are formal reports providing information on a company's financial position, cash inflows and outflows, and the results of operations.

4 AisAccounting InformationUsage of Accounting Information

Accounting is the vehicle for reporting financial information about a business entity to many different groups of people.