What Functional Area Dominates the Accounting Profession in Germany

question 51

Multiple Choice

What functional area dominates the accounting profession in Germany?

• A)Taxation
• B)Auditing
• C)Financial reporting
• D)Managerial Accounting

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Definitions:

Bailor

The owner of a chattel who delivers possession of the chattel to another in a bailment.

Vicarious Performance

A performance of a contract by a third party, where the contracting party remains liable for the performance.

Licensed Mechanic

A technician who has obtained official authorization or certification to perform mechanical repairs and maintenance on various types of machinery, especially vehicles.

Negligence

A failure to behave with the level of care that someone of ordinary prudence would have exercised under the same circumstances.