The accounting profession is evolving in response to the use of blockchain technology in business. Choose from the list below how tax accountants are impacted by the use of blockchain.
A) Record transactions related to buying and selling cryptocurrencies
B) Simplify and automate tax compliance and transparency
C) Secured payments are sent to suppliers as soon as materials are received.
D) Acquire sufficient evidence about the nature of blockchain transactions

Question

Quizplus · Accepted Answer

Blockchain technology simplifies and automates tax compliance and transparency by providing a secure and immutable record of transactions.

The Accounting Profession Is Evolving in Response to the Use