Multiple Choice
Which of the following is NOT a transaction to be recorded in the accounting records of a company?
65
views
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 type of accounting?
A
Cost Accounting
B
Property Accounting
C
Financial Accounting
D
Managerial Accounting
Verified step by step guidance1
Understand the question: The problem is asking to identify which option is not a type of accounting. This requires knowledge of the different branches of accounting.
Review the options provided: The options are Cost Accounting, Property Accounting, Financial Accounting, and Managerial Accounting.
Define each term: Cost Accounting focuses on tracking, recording, and analyzing costs associated with production. Financial Accounting involves preparing financial statements for external users. Managerial Accounting is used for internal decision-making by managers.
Analyze the term 'Property Accounting': This is not a recognized branch of accounting. While property management may involve accounting tasks, it is not classified as a distinct type of accounting like the others.
Conclude that 'Property Accounting' is the correct answer because it does not fit the standard categories of accounting.
4:10mWatch next
Master Types of Accounting: Financial and Managerial with a bite sized video explanation from Brian
Start learningRelated Videos
Related Practice
Types of Accounting practice set
Problem sets built by lead tutorsExpert video explanations