Since Financial Information Is Communicated in Accounting Terms, Accounting Is

question 45

Multiple Choice

Since financial information is communicated in accounting terms, accounting is said to be

• A) the language of business.
• B) public.
• C) private.
• D) nonprofit.

---

Definitions:

Procedural Law

Part of the legal system that dictates the process and methods by which the law is practiced and enforced.

Regulations

Rules or directives made and maintained by an authority to control or govern conduct within its scope of jurisdiction.

Statutes

Written laws passed by a legislative body at the federal, state, or local level.

Civil Code System

A legal system based on comprehensive written codes, as opposed to case law, providing all laws that can be applied to a specific area.