Which of the Following Statements Is Not Describing Why Accounting

question 17

Multiple Choice

Which of the following statements is not describing why accounting regulation is needed?

• A) If a process is regulated, even though people might not understand the regulation, they are more likely to have confidence in it
• B) Regulation is put in place to protect the favoured positions of those with capital
• C) Regulation is put in place so that the interest of the public is served
• D) If the financial system is regulated, then the resulting increased community confidence will lead to a reduced cost of capital for all firms

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Definitions:

Parental Discipline

Refers to the methods and strategies parents use to teach, guide, and correct their children's behavior, aiming at promoting proper conduct.

National Origin

Refers to the country where a person was born, or, more broadly, to the country or countries that one's ancestors come from.

Dual Citizen

An individual who is legally recognized as a citizen of two countries simultaneously.

Economic Status

The classification of an individual, family, or group's financial health, typically measured by income, wealth, and employment.