Which One of the Following Is a Required Characteristic of Accruals

question 94

Multiple Choice

Which one of the following is a required characteristic of accruals and deferrals?

• A)An asset or a liability will always be affected.
• B)Cash is either increased or decreased as a result of recording an accrual or deferral.
• C)Accruals record revenues, and expenses record deferrals.
• D)An asset and an expense item will always be affected.

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Definitions:

Phineas Gage

A railway worker who survived a severe brain injury in the 19th century, leading to important insights into brain function and personality change.

Personality Changes

Refers to alterations in an individual's character, feelings, or behavior that differ from their usual self.

Brain Injury

Any injury occurring to the brain caused by an external physical force, potentially leading to temporary or permanent impairment of cognitive, physical, and psychosocial functions.

Emotionality

The quality or state of being emotional; the degree to which a person's behavior is influenced by emotions.