At the End of the Fiscal Year,an Adjusting Entry Is

question 33

Multiple Choice

At the end of the fiscal year,an adjusting entry is made that increases both interest expense and interest payable.This entry is an application for which accounting principle?

• A)Full disclosure
• B)Materiality
• C)Matching
• D)Going concern
• E)Realization

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Definitions:

Presence of Others

The phenomenon of how an individual's thoughts, feelings, and behaviors can be influenced by the physical or imagined presence of others.

Helping Behavior

Acts performed with the goal of benefiting another person, regardless of the helper's motives.

Conformity

The tendency to align one's attitudes, beliefs, and behaviors with those of a group or social norm.

Normative Influence

The impact of the social environment on individuals' behavior, where people conform to the expectations of a group to be liked, accepted, or to avoid disapproval.