Which of the following defines financial accounting system?

Question 2 options:

Measures the cost of replacing an employee.

Provides the appropriate information to the external community.

Records transactions when money is either received or spent.

Provides information to the management of a business and aids in internal controls.

Records transactions when they occur.

Question 3(1 point)

An income statement:

Question 3 options:

examines a business's assets, liabilities, and owner's equity at some particular point in time.

attempts to identify cash flows into a firm and cash flows from a firm for some future period.

examines the reinvested income in a business and which has not been paid out to shareholders as dividends.

examines the overall profitability of a firm over a particular period of time.

examines cash inflows and cash outflows for a business during a specified period of time.

Which of the following is a cash inflow from investing activities?

Question 5 options:

Revenue from sale of good and services

Collection of the principle on loans

Sale of securities

Dividends from other companies

Issue debt instruments