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Accounting and Bookkeeping Comparison

Question 44

Essay

Accounting and bookkeeping comparison
Indicate whether each of the following statements applies to: (a) accounting alone, (b) bookkeeping alone, (c) both accounting and bookkeeping or (d) neither accounting nor bookkeeping.
_____ Subject to internal controls
_____ Requires analysis
_____ Primarily involves cyclical activities
_____ Involves human judgment
_____ Focuses on economic information
_____ Defined by American Accounting Association
_____ Concerned with measuring
_____ Can incorporate computers
_____ Can be principles-based
_____ Always involves information technology

Correct Answer:

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C - Subject to internal controls
C - Req...

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