3.1.7

2. This includes the recording transactions and preparing financial reports for the use of the management, owners, creditors.
5. It is accounting job done by private business enterprises.
6. interested in the financial statement to determine whether to acquire ownership in the firm.
7. This includes preparation and filing of income tax returns.
10. business owned by five or more persons whose ownership is evidenced by shares of stocks. Each owner is called stockholder.
11. This is the principal service that a public accountant offers
13. things of value that are owned and used by the enterprise in its operations
14. needs accounting information to regulate the firm’s activities and determine the basins for taxation policies
15. After each accounting period, data recorded are summarized through financial statements.
16. These people are interested in information to enable them to assess the ability of the firm to provide remuneration and others.
17. the systematic and chronological recording of the financial transactions of an enterprise
18. This provides management a plan for future operations
19. This has to do with the controlling, determining, and controlling costs particularly those costs in producing a product.

1. obligations that the firm owes to other individuals or organization for the acquisitions of goods and services.
3. he is interested to know whether the business should be maintained, increases, decreased, or disposed of completely.
4. The one who asks questions before granting a loan
5. It is a professional service rendered by a Certified Public Accountant and his employees to the public for a fee.
8. the systematic and chronological recording of business transactions
9. an association of two or more persons to carry on as co-owners of a business for profit.
10. in this phase, items are sorted and grouped.
12. reports the revenues earned by a company during a given period of time