Which of the Following Types of Accounting Is Designed to Meet

question 156

Multiple Choice

Which of the following types of accounting is designed to meet the needs of decision-makers inside a company?

• A) Audit accounting
• B) Financial accounting
• C) Managerial accounting
• D) Tax accounting

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Definitions:

Unpaid Payroll

The total sum of all wages, salaries, bonuses, and deductions owed to employees that have not yet been paid.

Depreciation

The accounting process of allocating the cost of a tangible asset over its useful life, reflecting decrease in value over time.

Municipal Bonds

Fixed-income securities issued by cities, states, or other local government entities to finance public projects.

Taxable Corporate Bond

A fixed-income security issued by a corporation that is subject to taxes on the interest income received by the bondholder.