Multiple Choice
Which type of accounting is primarily concerned with determining the legal responsibility of an individual or entity for business actions, debts, and obligations?
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1. Introduction to Accounting
Types of Accounting
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Which type of accounting professional is primarily responsible for helping individuals or organizations manage and reduce the risk of financial loss in the stock market?
A
Forensic Accountant
B
Management Accountant
C
Financial Analyst
D
Tax Accountant
Verified step by step guidance1
Understand the roles of each accounting professional listed in the problem to determine their primary responsibilities.
Forensic Accountant: This professional investigates financial discrepancies, fraud, and legal disputes. Their focus is on legal and investigative accounting rather than stock market risk management.
Management Accountant: This professional focuses on internal financial planning, budgeting, and decision-making within an organization. They do not specialize in stock market risk management.
Tax Accountant: This professional specializes in tax compliance, planning, and strategies to minimize tax liabilities. Their expertise is not related to managing stock market risks.
Financial Analyst: This professional evaluates financial data, market trends, and investment opportunities to help individuals or organizations make informed decisions and reduce the risk of financial loss in the stock market. Therefore, the correct answer is Financial Analyst.
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