Which of the Following Statements Is Correct

question 12

Multiple Choice

Which of the following statements is correct?

• A) Financial Accounting is a legal requirement. It is concerned with producing the accounts of an entity, and is produced for stakeholders. Management accounting is not a legal requirement, and is for use within the company.
• B) Financial Accounting is a legal requirement. It is concerned with the financing of the entity. Management accounting is also a legal requirement, and together they are used to produce the accounts of the entity.
• C) Financial Accounting is not a legal requirement. It is concerned with the cash flow of the entity. Management Accounting is a legal requirement, and this is used to produce the accounts of the entity.
• D) Financial Accounting is not a legal requirement. It is concerned with the financing of the entity. Management accounting is also not legally required, and is for use within the company.

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Definitions:

Intermittent Schedule

A reinforcement schedule in which rewards or consequences are given out at irregular intervals to modify behavior.

Free Will

The ability of agents to make choices free from certain kinds of constraints, a concept often debated in philosophy and psychology.

Behavioral Principles

Fundamental concepts or rules that underlie patterns of behavior, often used in psychology to explain and predict human actions.

Conditioned Stimuli

In classical conditioning, a previously neutral stimulus that, after association with an unconditioned stimulus, comes to trigger a conditioned response.