Multiple Choice
Which of the following is not a type of accounting?
28
views
1. Introduction to Accounting
Types of Accounting
Struggling with Financial Accounting?
Join thousands of students who trust us to help them ace their exams!Watch the first videoMultiple Choice
Which of the following types of accounting focuses primarily on providing information to external users such as investors, creditors, and regulatory agencies?
A
Financial Accounting
B
Cost Accounting
C
Tax Accounting
D
Managerial Accounting
Verified step by step guidance1
Understand the purpose of each type of accounting mentioned in the problem: Financial Accounting, Cost Accounting, Tax Accounting, and Managerial Accounting.
Recognize that Financial Accounting is designed to provide information to external users such as investors, creditors, and regulatory agencies. It focuses on preparing financial statements like the balance sheet, income statement, and cash flow statement.
Learn that Cost Accounting is primarily used internally by management to analyze costs and improve efficiency within the organization.
Understand that Tax Accounting deals with compliance with tax laws and regulations, focusing on preparing tax returns and planning for tax obligations.
Note that Managerial Accounting is intended for internal users, such as managers, to assist in decision-making, planning, and controlling operations.
4:10mWatch next
Master Types of Accounting: Financial and Managerial with a bite sized video explanation from Brian
Start learningRelated Videos
Related Practice
Types of Accounting practice set
Problem sets built by lead tutorsExpert video explanations