During the Lifetime of an Entity, Accountants Produce Financial Statements

question 104

Multiple Choice

During the lifetime of an entity, accountants produce financial statements at arbitrary points in time in accordance with which basic accounting concept?

• A) Cost constraint
• B) Periodicity assumption
• C) Conservation
• D) Expense recognition principle

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Definitions:

Positive Reinforcement

A technique used in behavioral psychology to increase the likelihood of a desired behavior by following it with the addition of a reinforcing stimulus.

Punishment

A consequence that decreases the likelihood of a behavior being repeated, often used as a form of behavioral control.

Half-hearted Attempts

Efforts or actions carried out with minimal enthusiasm or commitment.

Learned Helplessness

A psychological condition in which a person has learned to believe they are powerless in a particular situation, often as a result of repeated failure or inability to control outcomes.