Which of the Following Statements Is True of Financial Accounting

question 18

Multiple Choice

Which of the following statements is true of financial accounting?

• A) Financial accounting is directed toward external users.
• B) Financial accounting is subject to externally imposed rules.
• C) Financial accounting is able to provide audited, objective financial information.
• D) All of these are correct.

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Definitions:

Delta

A method of electrical connection in which each side of a load is connected to a vertex of a triangle-like configuration, with power supplied at each vertex.

Wye

An electrical configuration where three components are connected at a single common point, forming a Y shape.

True Power

The actual power consumed by a device in an electrical circuit, measured in watts (W), and calculated as the product of voltage, current, and the cosine of the phase angle between them.

Three-Phase Circuit

An electrical distribution system consisting of three alternating currents of the same frequency, which reach their peak values at different times.