Accounting Practices Are Affected by All of the Following Except

question 10

Multiple Choice

Accounting practices are affected by all of the following except:

• A)Political systems.
• B)Economic systems.
• C)Technology and infrastructure.
• D)Management knowledge of accounting practices.

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Definitions:

Sellers

Individuals or entities that offer goods or services for sale in the marketplace.

Progressive

A term describing a tax system where the tax rate increases as the taxable amount increases, or broadly referring to policies or principles aiming at promoting social advancement.

Regressive

A term often used in taxation that describes a situation where the tax rate decreases as the taxable amount increases, placing a heavier burden on lower-income individuals.

Transfer Payments

Transfer payments are the distributions of money by the government to individuals without the requirement of goods or services in return, such as welfare or social security.