Multiple Choice
Which type of accounting determines whether personal life insurance premiums are usually deductible?
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1. Introduction to Accounting
Types of Accounting
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Which type of accounting practice involves maintaining duplicate records in different locations primarily for ease of access and safeguarding information?
A
Forensic Accounting
B
Management Accounting
C
Accounting Information Systems
D
Financial Accounting
Verified step by step guidance1
Understand the question: It is asking about an accounting practice that involves maintaining duplicate records in different locations for ease of access and safeguarding information.
Review the options provided: Forensic Accounting, Management Accounting, Accounting Information Systems, and Financial Accounting.
Clarify the concepts: Forensic Accounting focuses on investigating financial fraud and disputes. Management Accounting deals with internal decision-making processes. Financial Accounting involves preparing financial statements for external users. Accounting Information Systems (AIS) integrates technology to manage and safeguard financial data.
Identify the correct practice: Maintaining duplicate records in different locations is a characteristic of Accounting Information Systems (AIS), as it ensures data accessibility and security.
Conclude: The correct answer is Accounting Information Systems because it aligns with the description of maintaining duplicate records for ease of access and safeguarding information.
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