Which of the Following Criteria Does NOT Have to Be

question 4

Multiple Choice

Which of the following criteria does NOT have to be met before an event or transaction should be recorded for accounting purposes?

• A) The event or transaction must be an external event.
• B) The event or transaction can be measured objectively in financial terms.
• C) The event or transaction is relevant and reliable.
• D) The event or transaction must meet the definition of an element.

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Definitions:

Social Norms

Unwritten rules that govern the behavior of individuals within a society or group.

Changing Attitude

The process of altering one's beliefs, feelings, or behaviors towards an object, person, or situation.

Low Self-Esteem

Low self-esteem is a condition characterized by a lack of confidence and feeling poorly about oneself.

Standing Up

The action of rising from a sitting or lying position to a vertical, upright posture, often symbolizing readiness or defiance.