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Question
Accounting and bookkeeping comparisonIndicate whether each of the following statements applies to: (a) accounting alone, (b) bookkeeping alone, (c) both accounting and bookkeeping or (d) neither accounting nor bookkeeping.
_____ Subject to internal controls
_____ Requires analysis
_____ Primarily involves cyclical activities
_____ Involves human judgment
_____ Focuses on economic information
_____ Defined by American Accounting Association
_____ Concerned with measuring
_____ Can incorporate computers
_____ Can be principles-based
_____ Always involves information technology
Answer
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