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Which accounting theory is best described by the statement 'An approach to accounting is one...

Which accounting theory is best described by the statement 'An approach to accounting is one where a theory is thought of as a body of knowledge that explains and attempts to predict actual accounting practice'?

A.

general accounting theory

B.

positive accounting theory

C.

normative accounting theory

D.

historical cost accounting theory

CPA Australia Financial-Accounting-and-Reporting Summary

  • Vendor: CPA Australia
  • Product: Financial-Accounting-and-Reporting
  • Update on: Jan 6, 2026
  • Questions: 100
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