What Accounting Concept Justifies the Use of Accruals and Deferrals

question 79

Multiple Choice

What accounting concept justifies the use of accruals and deferrals?

• A) Going-concern assumption
• B) Corporate form of organization
• C) Consistency characteristic
• D) Arm's-length transactions

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Definitions:

Means

Refers to the central tendency or average of a set of values, signifying a typical or representative value of the dataset.

Standard Deviations

A statistic that measures the dispersion or variation from the mean in a set of data.

N = 20

Denotes a sample size of 20 in statistical terms, referring to the number of subjects or units in a study or experiment.

Creative Benefits

Non-traditional compensation or perks offered by employers, often designed to accommodate personal needs and preferences of employees.