Which of the Following Is a True Statement About Accounting

question 27

Multiple Choice

Which of the following is a true statement about accounting for business activities?

• A)An overall accounting method can only be adopted with the permission of the commissioner.
• B)An overall accounting method is initially adopted on the first return filed for the business.
• C)The cash method can only be adopted by individual taxpayers.
• D)The accrual method can only be adopted by corporate taxpayers.
• E)None of the choices are true.

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Definitions:

Synapse

The junction between two neurons or a neuron and a muscle where electrical or chemical signals are transmitted.

Dendrite

A branched extension of a neuron that receives impulses from other neural cells and transmits them towards the cell body.

Primitive Learning

A basic form of learning that occurs early in life, often driven by instinct and the need to adapt to the environment, without the need for conscious thought.

Reflexes

Involuntary movements or actions automatically produced by the body in response to specific stimuli, serving as protective mechanisms.