Highlight the correct answer in Green

1. The type or branch of accounting that generates reports for the use of external parties such as creditors, investors and government agencies is known as:

1. Financial accounting
2. Managerial accounting
3. Forensic accounting
4. Tax accounting

2. The branch of accounting that generates reports and information for the use of internal management is known as:

1. Tax accounting
2. Managerial accounting
3. Auditing
4. International accounting

3. Accounting provides information on

1. Cost and income for managers
2. Companys tax liability for a particular year
3. Financial conditions of an institution
4. All of the above

4. Which of the following is NOT an example of intangible assets?

1. Franchise rights
2. Goodwill
3. Patents
4. Land

5. Behaving ethically in finance can _____

a. Lower likelihood of lawsuits and criminal charges

b. Reduce transaction costs

c. Lead to higher market values

d. All of the above