Although Accounting Has Made Its Most Dramatic Progress in the Field

question 374

Multiple Choice

Although accounting has made its most dramatic progress in the field of business, the accounting function is vital to every unit of our society. An individual must account for his or her income and must file income tax returns. Often an individual must supply personal accounting information in order to buy a car or home, to qualify for a college scholarship, to secure a credit card or to obtain a bank loan. The federal government, the states, the cities, the school district: all must use accounting as a basis for controlling their resources and measuring their accomplishments. Walter B. Meigs and Robert F. Meigs, Accounting, 6^th ed.

• A) Nonargument.
• B) Argument; conclusion: The accounting function ... every unit of our society.
• C) Argument, conclusion: The federal government ... their accomplishments.
• D) Argument, conclusion: Often an individual ... obtain a bank loan.
• E) Argument, conclusion: Although accounting ... every unit of our society.

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Definitions:

Compliance Report

A compliance report is a document that outlines whether and how well a company or organization is adhering to set regulations, standards, or laws.

Chronology

The arrangement of events or dates in the order of their occurrence.

Topical Organization

Arrangement of material according to comparisons, importance, sequence, chronology, spatial orientation, geography, or category.

Chain Of Events

A sequence of occurrences or actions that are linked together, often leading to a particular result or outcome.