The Essential Characteristic(s) of Accounting Is (Are)

question 14

Multiple Choice

The essential characteristic(s) of accounting is (are)

• A) communication of financial information to interested internal parties only.
• B) communication of economic information to external parties.
• C) identification and measurement of financial information only.
• D) identification, measurement, and communication of financial information.

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Definitions:

Monetary Award

A financial compensation or reward given, often as a result of a legal verdict or settlement.

Rational

Refers to decision-making that is based on logic and reason, often assuming that individuals choose the option with the greatest personal benefit.

Free Money

Resources or funds received without the requirement for repayment, often perceived as grants or gifts.

Radio Station

A service that broadcasts audio content to the public through radio waves or digital transmissions.