Multiple Choice
Which type of accounting is primarily concerned with setting and evaluating short-term goals related to product, price, distribution, and promotion within an organization?
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1. Introduction to Accounting
Types of Accounting
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All of the following are types of accounting except:
A
Managerial accounting
B
Financial accounting
C
Public relations accounting
D
Cost 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 include Managerial accounting, Financial accounting, Public relations accounting, and Cost accounting.
Clarify the concept: Managerial accounting, Financial accounting, and Cost accounting are established branches of accounting. Managerial accounting focuses on internal decision-making, Financial accounting deals with external reporting, and Cost accounting analyzes costs for budgeting and efficiency.
Identify the outlier: Public relations accounting is not a recognized branch of accounting. Public relations is a separate field focused on managing communication and reputation, not financial transactions or reporting.
Conclude the answer: Based on the analysis, Public relations accounting is the correct answer as it is not a type of accounting.
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