The Term "Accounting Independence" Refers to

question 9

Multiple Choice

The term "accounting independence" refers to

• A)data integrity
• B)separation of duties, such as record keeping and custody of physical resources
• C)generation of accurate and timely information
• D)business segmentation by function

---

Definitions:

Excise Tax

A tax directly levied on certain goods, services, or activities, often with the aim of discouraging their use or consumption.

Relative Burden

The comparative impact of a tax, cost, or other financial obligation on an individual or group.

Inelastic Demand

Inelastic demand is a situation where the demand for a product does not significantly change with a change in the product's price.

Tax Burden

Represents the total amount of taxes that individuals or businesses must pay to governmental authorities.