Professional Accountants Need a Wide Range of Knowledge and Skills

question 34

Multiple Choice

Professional accountants need a wide range of knowledge and skills. Which of the following is not an example of such knowledge or skills?

• A) An ability to calculate and analyze data, and a facility with numbers.
• B) Knowledge of many disciplines such as finance, economics, management, marketing and statistics.
• C) An ability to communicate in a concise and understandable manner.
• D) Skills derived from prior management experience.

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Definitions:

Mission Statement

A concise declaration of an organization's core purpose and focus that informs its goals, culture, and strategy.

Future Position

A strategic goal or objective that an organization or individual plans to achieve in the future.

Management Accounting

The practice of analyzing and presenting financial data to management for the purpose of informed decision-making, planning, and control.

Accounting Standards

Rules and guidelines set by authoritative bodies that dictate how financial transactions and statements should be recorded and reported.