Accounting Processes Are Broadly Divided into Two Main Categories: Financial

question 47

True/False

Accounting processes are broadly divided into two main categories: financial accounting and management accounting.

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Definitions:

Humanism

A philosophical and ethical stance that emphasizes the value and agency of human beings, individually and collectively, and generally prefers critical thinking and evidence over acceptance of dogma or superstition.

Potential

Refers to the capacity or ability that exists within a person or system that has yet to be utilized or expressed.

Principles

Fundamental truths or propositions that serve as the foundation for a system of belief or behavior.

Abraham Maslow

A pioneering psychologist best known for creating Maslow's hierarchy of needs, a theory in human psychological health predicated on fulfilling innate human needs in priority, culminating in self-actualization.