3.1.7

2. This is the principal service that a public accountant offers
7. business owned by five or more persons whose ownership is evidenced by shares of stocks. Each owner is called stockholder.
11. These people are interested in information to enable them to assess the ability of the firm to provide remuneration and others.
12. This includes preparation and filing of income tax returns.
13. obligations that the firm owes to other individuals or organization for the acquisitions of goods and services.
15. This has to do with the controlling, determining, and controlling costs particularly those costs in producing a product.
16. the systematic and chronological recording of the financial transactions of an enterprise
17. needs accounting information to regulate the firm’s activities and determine the basins for taxation policies
18. After each accounting period, data recorded are summarized through financial statements.
19. the systematic and chronological recording of business transactions
20. he is interested to know whether the business should be maintained, increases, decreased, or disposed of completely.

1. This provides management a plan for future operations
3. interested in the financial statement to determine whether to acquire ownership in the firm.
4. referred to as the cost of earning revenues
5. It is accounting job done by private business enterprises.
6. an association of two or more persons to carry on as co-owners of a business for profit.
8. in this phase, items are sorted and grouped.
9. things of value that are owned and used by the enterprise in its operations
10. reports the revenues earned by a company during a given period of time
14. The one who asks questions before granting a loan