Consistency Is Best Demonstrated When

question 20

Multiple Choice

Consistency is best demonstrated when

• A) expenses are reported as charges against the period in which incurred.
• B) the effect of changes in accounting methods is properly disclosed.
• C) extraordinary gains and losses are not reported on the income statement.
• D) accounting procedures are adopted which give a consistent rate of net income.

Understand the concept of neurotic needs in Horney’s theory and identify the 10 neurotic needs.

Recognize the role of self-analysis, free association, and dream analysis in Horney's perspective.

Comprehend the impact of childhood experiences on adult personality according to Horney.

Grasp Horney's views on neurotic needs throughout one's life and the potential for overcoming them.

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Definitions:

Real Accounts

Accounts related to assets, liabilities, and equity that are shown on the balance sheet, maintaining their balances over time and not closed at the end of the accounting year.

Permanent Accounts

Accounts on the balance sheet whose balances are carried over into the next accounting period.

Post-closing Trial Balance

A list of all company accounts that remain after adjusting entries and closing entries have been made, used to test the balance of debits and credits.

Asset Accounts

Accounts on a balance sheet representing resources owned or controlled by a company with future economic value.