The Critical Approach to Accounting Is Necessary Primarily Because

question 45

Multiple Choice

The critical approach to accounting is necessary primarily because:

• A)various levels of authorization are desirable to enhance separation of duties.
• B)management compensation would be even more excessive without it.
• C)revenue Canada requires it.
• D)a company's stakeholders and management have differing information needs and interests.

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Definitions:

Recent Years

A term referring to the very latest past period, often without specifying the exact duration.

Defined Benefit Pension Plans

Retirement plans where an employer guarantees a specified pension amount to employees based on salary history and length of service.

Defined Contribution Plans

Retirement savings plans where the amount of the retirement benefits is determined by the contributions made by the employee and/or the employer.

Retirement Income

Money an individual receives after retiring from active employment, usually in the form of pensions, savings, or investments.