1. Identify the six correct accounting activities from the list of 10 shown below: (Points : 2) Helps in profit planning and preparation of budgets Presenting data on a quarterly basis for audit purposes Explaining cost data for quality analysis and control purposes Analyzing intracompany cost-volume-profit relationships Gathering and presentation of decision-making data Benchmarking of standardized and planned costs to compare against actual costs Determining manufacturing and service costs Creating financial statements for reporting purposes Analyzing and explaining the costs involved in producing or providing goods and services. Then explaining how they are reported in financial statements Using GAAP to prepare reports to be audited by CPAs
