W the Primary Difference Between Predicting and Inferring Is That

question 39

Multiple Choice

W The primary difference between predicting and inferring is that

• A) Predicting asks what will happen next and inferring asks why something happened.
• B) Inferring asks what will happen next and predicting asks why something happened.
• C) Predicting asks what will happen next and inferring is a guess as to what will happen next.
• D) There is no difference between predicting and inferring.

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Definitions:

General Accounting Procedures

The standardized methods and practices used by accountants to prepare, present, and report financial statements.

Accounting Practices

The systematic process of recording, reporting, and analyzing financial transactions of a business, according to established conventions, principles, and standards.

Financial Accounting Standards Board

An independent nonprofit organization responsible for establishing accounting and financial reporting standards for companies and nonprofit organizations in the United States.

Certified Public Accountants

Licensed professionals who offer financial services such as auditing, tax preparation, and financial planning, and must adhere to professional standards.