Which of the Following Statements Is True About Accounting in China

question 76

Multiple Choice

Which of the following statements is true about accounting in China?

• A)Accounting has a long history, dating back thousands of years.
• B)The first professional accounting body in the People's Republic of China was established in 1988.
• C)Its roots can be found in the teachings of the philosopher and educator Confucius.
• D)All of the above statements are true.

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Definitions:

Flexible Budget

A budget that adjusts or flexes with changes in volume or activity, allowing better performance evaluation.

Spending Variance

The discrepancy between the budgeted or forecasted expenditure and the actual amount spent.

Client-Visits

The number of times clients come into contact with the service provider, which could be in person or virtually, within a given period.

Medical Supplies

Items used in medical care, including tools, equipment, and consumables, essential for diagnosing, preventing, and treating illnesses.