Accounting as a Profession Did Not Exist in England Prior

question 79

True/False

Accounting as a profession did not exist in England prior to 1988.

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Definitions:

Specific Performance

A legal remedy requiring a party to perform their specific duties under a contract, rather than paying damages.

Implicit Guarantee

An unstated or implied promise or assurance, often believed to exist due to past practices or general market perceptions.

Future Performance

A contractual commitment to perform a service or deliver a product at a future date.

Breach of Warranty

The violation of a claim or promise about a product's condition, quality, or performance.