Multiple Choice
Which term refers to the process of determining the relative worth of jobs within an organization based on internal comparisons?
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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 a type of accounting?
A
Market research accounting
B
Financial accounting
C
Customer service accounting
D
Product design accounting
Verified step by step guidance1
Step 1: Understand the question by identifying the key term 'type of accounting' and recognize that the question is asking for a valid category within the field of accounting.
Step 2: Recall the main types of accounting, which include Financial Accounting, Managerial Accounting, Cost Accounting, Tax Accounting, and Auditing.
Step 3: Evaluate the options provided in the question: 'Market research accounting,' 'Financial accounting,' 'Customer service accounting,' and 'Product design accounting.'
Step 4: Eliminate options that are not recognized as standard types of accounting. For example, 'Market research accounting,' 'Customer service accounting,' and 'Product design accounting' are not established categories in accounting.
Step 5: Identify 'Financial accounting' as the correct answer because it is a widely recognized and fundamental type of accounting focused on preparing financial statements for external users.
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