Financial Accounting

question 26

Multiple Choice

Financial accounting

• A) is concerned with the information about the firm as a whole.
• B) has to adhere to GAAP policies.
• C) focuses on external users.
• D) all of these are correct

---

Definitions:

Ideal Bureaucracies

Theoretical models of organizational structures designed to operate efficiently and rationally through clear hierarchies and rules.

Informal Culture

Refers to the unwritten, unspoken norms, behaviors, and practices that develop organically within social groups, outside formal institutions.

Formal Organizations

Structured groups established for a specific set of objectives or tasks, characterized by clear hierarchies and rules.

Social Change

The alteration over time in the structures, cultural patterns, and norms of a society.