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Is accounting an Art or a Science - Response
After reviewing the question, I figured that accounting to be considered a science, since it deals with equations, numbers, etc. just like mathematics. When I took a closer look, I saw that accounting is more of an art. Since art itself deals with certain skills and being creative, that correlates more of the meaning of accounting. For art to not be a science is the fact that the accounting rules/principles seem to be consistently changing. For example, living with roommates who are accounting majors, from my perspective, they seem to be teaching each other different skills and what they learned in order to deal with accounting problems. This makes me view them as more of artists rather than scientists in the sense of how they use all their different creative ways. Therefore, I believe accounting is considered more of an art then a science because one has to be well trained in order to perform accounting functions.
Hubbard argues that the Fed can control the Fed funds rate, but the interest rate that is important for the economy is a longer-term real rate of interest. How much control does the Fed have over this longer real rate?
Coures:- Fundamental Accounting Principles: - Explain the goals and uses of special journals.
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