Jim Operates His Business on the Accrual Method, and This

question 110

Multiple Choice

Jim operates his business on the accrual method, and this year, he received $4,000 for services that he intends to provide to his clients next year. Under what circumstances can Jim defer the recognition of the $4,000 of income until next year?

• A)Jim can defer the recognition of the income if he absolutely promises not to provide the services until next year.
• B)Jim must defer the recognition of the income until the income is earned.
• C)Jim can defer the recognition of the income if he has requested that the client not pay for the services until the services are provided.
• D)Jim can elect to defer the recognition of the income if the income is not recognized for financial accounting purposes.
• E)Jim can never defer the recognition of the prepayments of income.

Comprehend the methodologies and purposes of various psychological perspectives, including structuralism, functionalism, and behaviourism.

Identify the roles of different types of psychologists (e.g., clinical, social, cognitive, developmental) based on their research focus.

Recognize the impact of psychological perspectives on understanding human behavior and mental processes.

Understand the application of psychological principles to solve real-world problems.

---

Definitions:

Psychogenic Perspective

The psychogenic perspective focuses on the psychological origins of mental illness, emphasizing the influence of emotions, thoughts, and early experiences.

Psychological Factors

Refers to the mental, emotional, and cognitive aspects that influence an individual's behavior and well-being.

Abnormal Functioning

A term referring to patterns of behavior, thought, or emotions considered outside the societal norm, possibly indicating a psychological disorder.

Somatogenic Approach

A theoretical approach in psychology and psychiatry that emphasizes the physical causes of mental disorders, focusing on genetic, neurological, or biochemical contributors.