Which of the following is NOT a type of accounting?

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

Answer: (D)

Verified step by step guidance

1. Step 1: Understand the types of accounting mentioned in the problem. Tax Accounting, Managerial Accounting, and Financial Accounting are all established branches of accounting, each serving specific purposes.
2. Step 2: Tax Accounting focuses on preparing and filing tax returns, ensuring compliance with tax laws, and planning for tax efficiency.
3. Step 3: Managerial Accounting involves providing financial and non-financial information to managers for decision-making, planning, and controlling operations within an organization.
4. Step 4: Financial Accounting is concerned with recording, summarizing, and reporting an organization's financial transactions to external parties, such as investors and creditors, through financial statements.
5. Step 5: Biological Accounting is not a recognized type of accounting. It does not fall under the established branches of accounting, making it the correct answer to the question.