Which of the following statements is true about accounting in China?
A)Accounting has a long history, dating back thousands of years.
B)The first professional accounting body in the People's Republic of China was established in 1988.
C)Its roots can be found in the teachings of the philosopher and educator Confucius.
D)All of the above statements are true.

Question

Quizplus · Accepted Answer

- A is true. Accounting has a long history in China, dating back to at least 7000 years ago when tokens used in accounting were found in the ruins of Banpo.
- B is true. The first professional accounting body, the Chinese Institute of Certified Public Accountants, was established in China in 1988.
- C is also true. Confucius emphasized honesty, accountability, and ethical behavior, which are all important values in accounting.

Which of the Following Statements Is True About Accounting in China