Which Statement Is Correct

question 55

Multiple Choice

Which statement is correct?

• A)Supplier discounts can only be accounted for by using the gross method.
• B)The amount owing for trade payables is generally not known with a high degree of certainty.
• C)An accrued liability is needed when a company has received goods,but not the invoice.
• D)Completeness means that obligations are reported in the proper accounting period.

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Definitions:

Nicotine

A stimulant and addictive substance found naturally in tobacco.

Addiction

A psychological and physical inability to stop consuming a substance or doing an activity despite it causing psychological and physical harm.

Major Life Stressors

Large disruptions, especially unpredictable and uncontrollable catastrophic events, that affect central areas of people’s lives.

Daily Hassles

Everyday irritations that cause small disruptions, the effects of which can add up to a large impact on health.