The Accounting Convention of _____ Permits a Company to Immediately

question 61

Multiple Choice

The accounting convention of _____ permits a company to immediately expense assets such as a garbage can) with small values and long useful lives.

• A)objectivity
• B)continuity
• C)materiality
• D)conservatism

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Definitions:

Inattentional Blindness

A psychological lack of attention that is not associated with any vision defects or deficits, where an individual fails to perceive an unexpected stimulus in plain sight.

Selective Attention

The process by which a person focuses on one or a few key stimuli while ignoring other information.

Sensory Overload

A condition where one or more of the body's senses experiences over-stimulation from the environment.

Cornea

The transparent front part of the eye that covers the iris, pupil, and anterior chamber, responsible for focusing most of the light that enters the eye.