McDonald wrote that professionals utilize a specialized knowledge base.Which of the following is the best example of the specialized knowledge base in accounting?

Question

Quizplus · Accepted Answer

Making adjusting entries requires a thorough understanding of accounting principles and requires specialized knowledge in order to accurately reflect the financial position of a company. Reconciling a bank statement and writing a check are important tasks in accounting, but do not require the same level of specialized knowledge as making adjusting entries. Using spreadsheet software is a technical skill that can be learned, but it does not necessarily require specialized knowledge in accounting.

McDonald Wrote That Professionals Utilize a Specialized Knowledge Base