Which of the Following IS a Characteristic of Financial Accounting

question 12

Multiple Choice

Which of the following IS a characteristic of financial accounting?

• A) not mandatory
• B) must follow GAAP
• C) emphasis on relevance of data, rather than precision
• D) both A and C above

---

Definitions:

Postsecondary Education

Education that takes place after completing high school, including programs at colleges, universities, vocational schools, and technical institutions.

Family Income

The total monetary earnings received by all members of a household, encompassing wages, salaries, benefits, and other income sources.

Participant Observation

A qualitative research method in which the researcher closely observes a group or community while participating in its activities to better understand its dynamics.

Social Characteristics

Attributes that describe and differentiate individuals or groups within a society, such as age, gender, ethnicity, and social class.