Which of the Following Is a True Statement About Accounting

question 51

Multiple Choice

Which of the following is a true statement about accounting for business activities?

• A) The cash method can only be adopted by individual taxpayers.
• B) The accrual method can only be adopted by corporate taxpayers.
• C) An overall accounting method is initially adopted on the first return filed for the business.
• D) An overall accounting method can only be adopted with the permission of the Commissioner.
• E) None of the choices are true.

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Definitions:

Experimental

Pertains to a trial or preliminary experiment method used to explore the validity of a hypothesis or understand cause-and-effect relationships.

Naturalistic Observation

A research method in which subjects are observed in their natural environment without intervention from the researchers.

Naturalistic Environment

A setting that closely mimics the real-world or natural conditions in which behaviors or phenomena occur.

Laws Of Behavior

Fundamental principles that describe how behaviors are learned and exhibited by individuals, often studied in psychology and behavioral science.