Questions: The accounting scandals at Xerox were largely a result of dishonest accounting practices.
A. financial
B. bookkeeper
C. managerial
D. chartered
Transcript text: The accounting scandals at Xerox were largely a result of dishonest $\qquad$ accounting practices.
A. financial
B. bookkeeper
C. managerial
D. chartered
Solution
Answer
The answer is A. financial
Explanation
Option 1: Financial
Financial accounting practices refer to the methods and procedures used to prepare financial statements and reports. Dishonest financial accounting practices would involve manipulating these statements to present a misleading picture of a company's financial health, which is consistent with the nature of the scandals at Xerox.
Option 2: Bookkeeper
Bookkeeping involves recording financial transactions, but it is a more basic and routine task compared to the broader scope of financial accounting. While dishonest bookkeeping can contribute to financial scandals, it is not as comprehensive as financial accounting practices.
Option 3: Managerial
Managerial accounting focuses on providing information to managers within the organization to aid in decision-making. While managerial accounting can be involved in unethical practices, the term "financial accounting practices" is more directly related to the preparation of financial statements that were manipulated in the Xerox scandal.
Option 4: Chartered
Chartered accounting refers to a professional designation for accountants. While chartered accountants can be involved in financial scandals, the term does not specifically describe the type of accounting practices that were dishonest in the Xerox case.