A major accounting value that relates to enforcement and authority of accounting systems is
A) statutory control.
B) secrecy.
C) optimism.
D) conservatism.

Question

Quizplus · Accepted Answer

Statutory control refers to the legal authority that enforces accounting standards and regulations. It is crucial in maintaining the integrity and credibility of accounting systems, ensuring that companies and individuals adhere to accounting principles and rules. Without statutory control, accounting practices may become unreliable and subject to abuse. Secrecy, optimism, and conservatism are important accounting values but are not directly related to enforcement and authority of accounting systems.

A Major Accounting Value That Relates to Enforcement and Authority