Question

Determine whether each of the following accounting duties mainly involves financial accounting, managerial accounting, or tax accounting.

1. Consulting with treasurer on cash flows
2. Intemal auditing
3. Estate planning
4. External auditing
5. Tax consulting
6. Analyzing extema financial reports
7. Planning transactions to minimize taxes
8. Enforcing tax laws Financial accounting Tax accounting

Answer 1

Answer:

Explanation:

1. managerial

2, managerial

3. financial

4. financial

5. tax

6. financial

7. tax

8. tax

Answer 2

The classification of the following accounting duties related to financial accounting, managerial accounting, or tax accounting is as follows:

1. Consulted with the treasurer for the cash flows should be the managerial accounting as it is the management part.
2. Internal auditing is managerial accounting.
3. Estate planning is related to tax so it is a tax accounting.
4. External auditing is classified as financial accounting.
5. Tax consulting is related to tax so it is a tax accounting.
6. External Financial reports should be analyzed so it is a financial accounting.
7. For minimizing the taxes, tax accounting should be used.
8. For enforcing the tax laws, tax accounting should be used.

In this, the following transactions should be classfied.

Learn more about the accounting here: brainly.com/question/19436415