The Accounting Profession Is Divided into 5 Key Working Areas,two

question 235

Multiple Choice

The accounting profession is divided into 5 key working areas,two of which are:

• A)Auditing and managerial accounting.
• B)Forecasting and logistical accounting.
• C)Inventory control and budgeting.
• D)Income accounting and expenditure accounting.

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Definitions:

World Price

The price of a good that is traded on the global market.

Imported

Products or services that are brought into one country from another for sale.

Tariff

A tax imposed by a government on goods and services imported from other countries, often used to protect domestic industries from foreign competition.

Government Revenues

The total money received by the government from taxes as well as non-tax sources like charges and fees.