Which type of accounting is most directly concerned with recording and analyzing transactions such as when a customer is contacted by phone and visited by a sales representative?

• A. Tax Accounting
• B. Governmental Accounting
• C. Managerial Accounting
• D. Financial Accounting

Answer: (C)

Verified step by step guidance

1. Understand the different types of accounting mentioned in the problem: Tax Accounting, Governmental Accounting, Managerial Accounting, and Financial Accounting.
2. Tax Accounting focuses on preparing and filing tax returns and ensuring compliance with tax laws.
3. Governmental Accounting deals with the financial management and reporting of government entities, ensuring accountability and transparency in public funds.
4. Managerial Accounting is concerned with providing internal reports and analysis to help management make decisions, such as tracking sales activities or customer interactions.
5. Financial Accounting is primarily concerned with recording, summarizing, and reporting financial transactions to external stakeholders, such as investors or creditors, through financial statements.