The Performance of a Lawful Act in an Improper Manner

question 18

Multiple Choice

The performance of a lawful act in an improper manner is:

• A)Misfeasance
• B)Malfeasance
• C)Nonfeasance
• D)Disfeasance

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Definitions:

Accounting Information System

A structure that collects, stores, manages, processes, retrieves, and reports financial data for its users, facilitating informed business decisions.

Financial Accounting

The process of recording, summarizing, and reporting the myriad of transactions resulting from business operations over a period of time, in order to produce financial statements.

LIFO

Last In, First Out, an inventory valuation method where the most recently produced items are recorded as sold first.