Explain the Role of Accountants and Distinguish Between the Kinds

question 10

Essay

Explain the role of accountants and distinguish between the kinds of work done by public accountants,private accountants,management accountants,and forensic accountants.

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Definitions:

High Wages

Payment levels to employees that are above the industry average, often due to high skill levels, efficiency, or labor market conditions.

Real Wages

Are wages that have been adjusted for inflation, representing the purchasing power of nominal wages.

Real Wages

Real wages refer to wage earnings adjusted for inflation, representing the purchasing power of a person's earnings in terms of the goods and services they can buy.

Dual Labor Market

A theory of the labor market that suggests it is divided into two segments: the primary market, which offers good jobs and the secondary market, known for poor working conditions and low pay.