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Chapter 1: Q1TI. (page 5)

Match the accounting terminology to the definitions. 1. Certified management accountants a. information system that measures business activities, processes that information into reports, and communicates the results to decision makers 2. Accounting b. professional accountants who serve the general public 3. Managerial accounting c. person or business to whom a business owes money 4. Certified public accountants d. field of accounting that focuses on providing information for internal decision makers 5. Financial accounting e. professionals who work for a single company 6. Creditor f. field of accounting that focuses on providing information for external decision makers

Short Answer

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Correct options are matched as follows:

Step by step solution

01

Explanation on certified management accountant

Certified management accountant is an accounting professional who has specialization in accounting and financial management and works for a single company only.

02

Explanation of accounting information system

Accounting information system measures the transactions or activities of the business, helps in processing information into financial reports, and finally communicates to the decision-makers.

03

Explanation of managerial accounting

Managerial accounting is the branch of accounting that focuses on providing information to the organization's internal management for decision making.

04

Explanation on certified public accountants

A certified public accountant is a financial professional who provides accounting services to the general public. They are certified by AICPA (American Institute of Certified Public Accountants).

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