Name the Following Functional Group

question 2

Multiple Choice

Name the following functional group:

• A) ester
• B) ketone
• C) alcohol
• D) carboxylic acid
• E) anhydride

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Definitions:

Cash Basis

A financial recording technique that only acknowledges income and expenditures upon the actual receipt or disbursement of cash.

Revenue Recognition

The accounting principle that dictates the specific conditions under which income is recognized by an entity.

Accrual Basis

An accounting method that records revenues and expenses when they are earned or incurred, regardless of when the cash transaction happens.

Revenue Recognition

The accounting principle that determines the specific conditions under which revenue is recognized and recorded in the financial statements.