Which Is a True Statement About John Constable

question 1

Multiple Choice

Which is a true statement about John Constable?

• A)He worked exclusively in his studio.
• B)He studied and recorded the movement of the clouds.
• C)He painted portraits of famous Englishmen.
• D)He went unnoticed in his own lifetime.

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Definitions:

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.

Revaluation Surplus

An increase in the value of an asset that is reflected in the books of accounts, primarily through a revaluation process.