Multiple Choice
Which type of account typically requires money to be deposited for a fixed period, during which it cannot be withdrawn without penalty?
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1. Introduction to Accounting
Types of Accounting
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Which of the following is NOT one of the six business functions commonly identified in financial accounting?
A
Research and Development
B
Marketing
C
Production
D
Tax Auditing
Verified step by step guidance1
Understand the six commonly identified business functions in financial accounting. These typically include Research and Development, Marketing, Production, Distribution, Customer Service, and Design.
Recognize that Tax Auditing is not considered one of the six business functions in financial accounting. Tax Auditing is a specialized activity related to compliance and verification of tax-related matters.
Compare the given options (Research and Development, Marketing, Production, and Tax Auditing) against the six business functions to identify the one that does not belong.
Eliminate the options that are part of the six business functions (Research and Development, Marketing, and Production).
Conclude that Tax Auditing is the correct answer because it is not one of the six business functions commonly identified in financial accounting.
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