Which One of the Following Statements Is True

question 54

Multiple Choice

Which one of the following statements is true?

• A) Financial accounting is the only accounting used in the United States.
• B) Companies that have a profit objective use not-for-profit accounting.
• C) Managerial accounting targets operating decisions.
• D) Financial and tax accounting are virtually the same.

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Definitions:

Essential Information

Information that is fundamental or critical to understanding a topic or making informed decisions.

Communication

The process of exchanging information, ideas, thoughts, and feelings between people through speaking, writing, or non-verbal methods.

Ethical Pitfalls

Dangers or risks of engaging in behavior that violates moral or professional standards, potentially leading to adverse consequences.

Diverse Workforce

A Diverse Workforce is composed of employees from a variety of backgrounds, cultures, ages, genders, and other characteristics, emphasizing inclusivity and diversity in the workplace.