Which of the Following Statements Best Describes Financial Accounting

question 39

Multiple Choice

Which of the following statements best describes financial accounting?

• A)An information system in which the underlying transactions of organization are captured,analyzed,and reported.
• B)The reports that management prepares for the owners of the company summarizing how the company performed during the period.
• C)An information system in which all transactions with the company are accurately reported.
• D)The reports that management prepares for use in making decisions related to the financing,investing,and operating activities of a company.

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Definitions:

Independent Variable

An independent variable is the variable in an experiment or study that is manipulated or changed by the researcher to observe its effect on the dependent variable.

Dependent Variable

In an experiment, the variable that is tested and measured, expected to change due to the independent variable.

Experimental Group

In research, a group of subjects exposed to the variable under study to determine its effects, contrasted with a control group.

Placebo

An inactive substance or treatment given to a patient instead of medication, used in controlled experiments to test effectiveness.