Which of the following is not a relationship focused on by positive accounting theory?

A) debt contracts.
B) political contracts.
C) managerial contracts.
D) creditor contracts.

Positive Accounting Theory

An accounting theory that seeks to explain and predict accounting practices, focusing on the relationships between various parties involved in accounting.

Political Contracts

Agreements made in the context of political relations, often involving government entities, which can encompass a wide range of subject matter from trade to defense.

Managerial Contracts

Agreements outlining the terms and responsibilities between managers and the entity they manage, often including performance criteria, duties, and compensation.