Multiple Choice
Which of the following is NOT a transaction to be recorded in the accounting records of a company?
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1. Introduction to Accounting
Types of Accounting
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Which of the following is not a type of accounting?
A
Cost Accounting
B
Property Accounting
C
Financial Accounting
D
Managerial Accounting
Verified step by step guidance1
Understand the question: The problem is asking to identify which option is not a type of accounting. This requires knowledge of the different branches of accounting.
Review the options provided: The options are Cost Accounting, Property Accounting, Financial Accounting, and Managerial Accounting.
Define each term: Cost Accounting focuses on tracking, recording, and analyzing costs associated with production. Financial Accounting involves preparing financial statements for external users. Managerial Accounting is used for internal decision-making by managers.
Analyze the term 'Property Accounting': This is not a recognized branch of accounting. While property management may involve accounting tasks, it is not classified as a distinct type of accounting like the others.
Conclude that 'Property Accounting' is the correct answer because it does not fit the standard categories of accounting.
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