Which of the Following Statements Is True

question 12

Multiple Choice

Which of the following statements is true?

• A) The accounts kept by a company constitute legal evidence,must be easily accessible to controllers and comply with laws and regulations.
• B) The accounts kept by a company are a source of management information.
• C) The accounts kept by a company are an instrument for business management.
• D) All of these.

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Definitions:

Interest

The cost of borrowing money or the return on investment for savings and loans, expressed as a percentage.

Revaluation

The process of adjusting the book value of a fixed asset or foreign currency to reflect its current market value.

Assets

Assets held or managed by a company anticipated to yield future financial gains.

Partnership

A business structure where two or more individuals share ownership, profits, liabilities, and decision-making processes.