The Principle of 'Stewardship' Means That the Main Focus of Accounting

question 7

Multiple Choice

The principle of 'stewardship' means that the main focus of accounting is on providing information to:

• A)employees.
• B)shareholders.
• C)accounts payable.
• D)none of the above.

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Definitions:

Median-Voter Model

A political theory suggesting that the outcome of majority rule voting systems will represent the preferences of the median voter.

Public Good

A good that is non-excludable and non-rivalrous, meaning it can be enjoyed by all members of society without reducing its availability to others.

Majority Vote

A decision rule that selects alternatives which have a majority, that is, more than half the votes.