The Two Broad Branches into Which Accounting Is Divided Are

question 26

Multiple Choice

The two broad branches into which accounting is divided are:

• A) cash and accrual.
• B) management and financial.
• C) taxation and financial.
• D) commercial and non-commercial.

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Definitions:

Tax Bracket

A tax bracket is a range of incomes taxed at a specific rate, with tax systems often applying progressively higher rates as income increases.

Annual

Pertaining to or occurring once every year.

Selling Price

The amount of money for which an item or service is sold in the market.

Operating Cash Flow

Represents the amount of cash generated by a company's normal business operations.