If a Business Records Revenue When It Is Received and Records

question 33

Multiple Choice

If a business records revenue when it is received and records the purchase of a building as an asset and makes adjustments to allocate the cost of the building over many accounting periods,the business accounting system is a(n)

• A) accrual basis of accounting.
• B) adjustment basis of accounting.
• C) cash basis of accounting.
• D) modified cash basis of accounting.

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Definitions:

Commodification

Commodification is the transformation of goods, services, ideas, or people into commodities or objects of trade, often emphasizing the market value over other values.

Internalization

The psychological process through which individuals absorb and integrate the values, beliefs, and norms of society into their own behavior.

Group Cohesion

The sense of solidarity or loyalty that individuals feel toward a group to which they belong.

Team Spirit

The sense of solidarity, enthusiasm, and loyalty among members of a group, contributing to its success and cohesion.