Which of the following are common accounting myths? (Select all that apply.) Select one or more: a. Accounting focuses only on math. b. Accountants focus only on the past. c. Accounting should be taught at culinary schools.

Question

Raul Calhoun

Business

1 May, 23:31

Which of the following are common accounting myths? (Select all that apply.) Select one or more: a. Accounting focuses only on math. b. Accountants focus only on the past. c. Accounting should be taught at culinary schools.

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Answers (1)

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Madeleine Kane · Answer 1

a. Accounting focuses only on math. b. Accountants focus only on the past. c. Accounting should be taught at culinary schools.

Explanation:

a. Because accounting deals largely with numbers, some people therefore believe that accounting is mathematics and the focus of accounting is mathematics

b. The saying that Accounting focuses on a company's historical data is a traditional legendary story told and accepted by both the educated and the uneducated.

Because some of the information or data that form the basis of the accountant's report are from period that has ended in the past, Accountants analysis and report are seen as ex-post examination rather than ex-ante.

c. Another popular view is that accounting should be taught in areas relating to cooking.