Which of the Following Is NOT Given as an Example

question 79

Multiple Choice

Which of the following is NOT given as an example of a decision that may require finance/accounting policies?

• A) To extend the time of accounts receivable
• B) To establish a certain percentage discount on accounts within a specified period of time
• C) To lease or buy fixed assets
• D) To use LIFO, FIFO, or a market-value accounting approach
• E) To be a price leader or a price follower

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Definitions:

Union Army

The Union Army was the land force that fought for the Union (the Northern states) during the American Civil War, opposing the Confederate Army of the Southern states.

1863

The year during the American Civil War known for significant events such as the Emancipation Proclamation, which declared the freedom of slaves in Confederate states.

Confederate Conscription Act

Legislation passed by the Confederate States during the Civil War in 1862, requiring certain classes of citizens to serve in the army.

Exemption

A provision that frees an individual or entity from an obligation or requirement typically imposed on others.