Fill in the Blank Questions 245. __________________________ is the recording of transactions or events and is just one part of accounting. 246. Accounting is a ______________________ that...

Fill in the Blank Questions

245. __________________________ is the recording of transactions or events and is just one part of accounting.

246. Accounting is a ______________________ that identifies, records, and communicates relevant, reliable, and comparable information about an organization's economic activities.

247. A ____________________ is a noncorporate business that is owned by only one person.

248. ______________ users of accounting information are users that are not directly involved in running the organization.

249. ______________ is the area of accounting aimed at serving external users.

250. ______________________ are procedures set up to protect company property and equipment, ensure reliable accounting reports, promote efficiency, and encourage adherence to company policies.