_____ is an accounting approach based on specific accounting requirements set by governmental taxing agencies.
A) Tax accounting
B) Managerial accounting
C) Benchmarking
D) Forensic accounting

Question

Quizplus · Accepted Answer

Tax accounting is the accounting approach for complying with specific accounting requirements set by governmental taxing agencies. It involves calculating tax liabilities and preparing tax returns. Managerial accounting focuses on internal decision-making and planning, benchmarking compares a company's performance to industry standards, and forensic accounting involves investigating financial fraud and legal disputes.

_____ Is an Accounting Approach Based on Specific Accounting Requirements