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The process of identifying, measuring, and communicating economic information to permit users to make informed judgments and decisions. accounting information is based on actual cost (cash or equal-to CHAPTER 1 ACCOUNTING IN ACTION SUMMARY OF QUESTIONS BY STUDY OBJECTIVES AND BLOOM’S TAXONOMY. troxelkara. MA Chapter 7 Questions Accounting for Labour MA Chapter 8 Questions Accounting for Overheads. Study with Quizlet and memorize flashcards containing terms like Accounting, What do we call the branch of accounting that provides information to external users ?, What do we call the branch of accounting that provides information to internal users ? and more. B00460626. 2; (8) d – refer to Chapter 1. Choose matching Quiz yourself with questions and answers for Business Accounting and Finance: Chapter 1 Practice Quiz, so you can be ready for test day. Econ 15A test . You have ample cash to do either, but you don't want to waste money needlessly. 1 K 9. 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