The Field of Accounting That Depends on Generally Accepted Accounting

question 12

Multiple Choice

The field of accounting that depends on generally accepted accounting principles (GAAP) is called

• A)cost accounting.
• B)financial accounting.
• C)managerial accounting.
• D)responsibility accounting.

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Definitions:

Ban on Liquor

A prohibition or legal restriction placed on the manufacture, sale, and consumption of alcoholic beverages.

War of Jenkins' Ear

A conflict between Great Britain and Spain from 1739 to 1748, ignited by the mutilation of the British sea captain Robert Jenkins and representative of broader colonial and trade disputes.

Pursue Freedom

The act or process of seeking or striving for liberty and autonomy in one's life or society, often from oppression or restrictions.

American Colonies

The original thirteen British colonies in North America that declared independence in 1776 to form the United States.