Which of the following is the most appropriate and modern definition of accounting?
a. Electronic collection, organization, and communication of vast amounts of information
b. The interconnected network of subsystems necessary to operate a business
c. A means of recording transactions and keeping records
d. The measurement, processing, and communication of financial information about an identifiable economic entity
D
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Indicate whether the statement is true or false
A pharmaceutical manufacturing firm wants to contribute to the presidential election campaign in support of a pro-industry policies candidate. The firm should ________
a) directly contribute to the campaign to influence legislative voting b) form multicandidate political action committee for the purpose of soliciting contributions c) collect funds for political contributions through dues d) contribute using hard money because there is no limit on its use