Multiple Choice
Kenya used a debit card to buy a pair of jeans. Which statement is true about her method of payment?
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1. Introduction to Accounting
Types of Accounting
Struggling with Financial Accounting?
Join thousands of students who trust us to help them ace their exams!Watch the first videoMultiple Choice
Which of the following is NOT a primary type of accounting?
A
Financial accounting
B
Tax accounting
C
Managerial accounting
D
Biological accounting
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Understand the primary types of accounting: Financial accounting, Tax accounting, and Managerial accounting are widely recognized as the main branches of accounting, each serving distinct purposes.
Financial accounting focuses on preparing financial statements for external users, such as investors and creditors, to assess the financial health of an organization.
Tax accounting deals with compliance with tax laws and regulations, ensuring accurate reporting and payment of taxes to government authorities.
Managerial accounting is concerned with providing internal management with information for decision-making, planning, and controlling operations.
Biological accounting is not a recognized type of accounting within the field of financial accounting, tax accounting, or managerial accounting. It does not align with the established categories of accounting.
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