Which of the Following Statements About Accounting Is Correct

question 60

Multiple Choice

Which of the following statements about accounting is correct?

• A) Learning about accounting is only important if you plan to become a CPA.
• B) Accounting can be considered an entirely new language.
• C) Financial information is primarily based on information generated from IT.
• D) All of the responses are correct

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Definitions:

Horizontal Integration

A strategy where a company acquires or merges with other companies at the same level of the supply chain in the same or different industries, to increase market share or product offerings.

Purchasing Savings

Cost reductions achieved by negotiating lower prices or finding more efficient procurement methods.

Vertical Integration

A strategy where a company expands its operations into different stages of production, often including the supply chain, to control costs and improve efficiency.