The Two Types of Accounting Are

question 152

Multiple Choice

The two types of accounting are:

• A)profit and nonprofit.
• B)financial and managerial.
• C)internal and external.
• D)bookkeeping and decision-oriented.

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Definitions:

Internally Generated Patent

A patent developed through a company's own research and development efforts.

Research and Development

Activities undertaken by businesses or organizations to innovate and introduce new products or services, typically involving substantial investment.

Technological Feasibility

The point at which a company determines that a new technology can be developed and made into a working product.

Software Development Costs

Expenses incurred in the research, development, design, and testing of software, which may be capitalized or expensed depending upon their nature and the accounting policies followed.