Certification Is the Culmination of a Process of Formal Recognition

question 37

True/False

Certification is the culmination of a process of formal recognition of the competence possessed by an individual in a specific area.

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Definitions:

Matching Concept

A fundamental principle in accounting that ensures expenses are matched with the revenues they generate in the same period.

Deferral Adjusting Entry

An accounting entry made to defer the recognition of revenue or expenses to a future period.

Unearned Revenue

Money received by an entity for a service or product that has yet to be delivered or completed.

Interest Revenue

Income earned from lending money or from investments in interest-bearing accounts or securities.