The continental accounting system is closely linked to the tax collection system.

Question

Quizplus · Accepted Answer

The continental accounting system is primarily used in countries that have a centralized tax collection system. This system is designed to ensure that tax revenues are collected efficiently and accurately. The accounting system is closely linked to the tax collection system, as it provides the necessary financial information that is required for tax calculations, reporting and compliance. Thus, the accuracy and completeness of the accounting information plays a key role in the effectiveness of the tax system.

The Continental Accounting System Is Closely Linked to the Tax