Public accounting is
A)the field of accounting where accountants work for businesses,government agencies,or other nonprofit organizations.
B)the field of accounting where services are offered to the general public on a fee basis.
C)a field of accounting where no audits occur.
D)the field that provides management with internal company reports.
E)unregulated.

Question

Quizplus · Accepted Answer

Public accounting is the field of accounting where services are offered to the general public on a fee basis. This includes providing auditing, tax preparation, and other financial services to individuals, small businesses, corporations, and nonprofit organizations. It is distinct from private accounting, where accountants work for a single organization, and government accounting, where accountants work for government agencies. Public accounting is regulated by various professional organizations and government agencies.

Public Accounting Is