3.1.7

2. This provides management a plan for future operations
4. This has to do with the controlling, determining, and controlling costs particularly those costs in producing a product.
8. These people are interested in information to enable them to assess the ability of the firm to provide remuneration and others.
12. the systematic and chronological recording of business transactions
14. he is interested to know whether the business should be maintained, increases, decreased, or disposed of completely.
15. This includes preparation and filing of income tax returns.
16. The one who asks questions before granting a loan
18. It is a professional service rendered by a Certified Public Accountant and his employees to the public for a fee.
19. interested in the financial statement to determine whether to acquire ownership in the firm.
20. It is accounting job done by private business enterprises.
21. This is the principal service that a public accountant offers
22. After each accounting period, data recorded are summarized through financial statements.

1. referred to as the cost of earning revenues
3. needs accounting information to regulate the firm’s activities and determine the basins for taxation policies
5. in this phase, items are sorted and grouped.
6. obligations that the firm owes to other individuals or organization for the acquisitions of goods and services.
7. the systematic and chronological recording of the financial transactions of an enterprise
9. an association of two or more persons to carry on as co-owners of a business for profit.
10. business owned by five or more persons whose ownership is evidenced by shares of stocks. Each owner is called stockholder.
11. This includes the recording transactions and preparing financial reports for the use of the management, owners, creditors.
13. things of value that are owned and used by the enterprise in its operations
17. reports the revenues earned by a company during a given period of time