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:

Mathematical Transformations

Operations applied to functions or geometric figures to alter their form in a specific manner without changing their essential properties.

Concrete Operational Period

A stage in cognitive development, as identified by Piaget, in which children can use logical thinking but are still not capable of abstract thought.

Formal Operational

The final stage of cognitive development, as defined by Piaget, characterized by the ability to think abstractly and logically.

Reason Abstractly

The cognitive ability to think about objects, principles, and ideas that are not physically present.