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:

Extrinsic Locus Control

A belief that external forces or situations beyond one's personal control determine life events and outcomes.

Self-Handicapping Tendencies

Behaviors or attitudes people adopt to create excuses for themselves, so they can avoid self-blame in case of failure.

Symbolic Interactionism

The perspective that people use their understanding of how others view them as the primary basis for knowing and evaluating themselves.

Social Schema Perspective

A framework for understanding how individuals categorize and interpret social information based on cognitive structures.