Which of the Following Is Consistent with Generally Accepted Accounting

question 128

Multiple Choice

Which of the following is consistent with generally accepted accounting principles?

• A) Absorption-cost approach
• B) Contribution approach
• C) Variable-cost approach
• D) Both absorption-cost and contribution approach

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Definitions:

Realistic Thinking

Focusing on facts and evidences to form beliefs or understand the world, acknowledging the actual state of affairs.

Optimistic Thinking

A mindset characterized by expecting the best possible outcome in any situation and focusing on the most hopeful aspects.

Panic Button Effect

A situation or response mechanism designed to offer an immediate means of help or action in emergency situations.

Automatic Thoughts

Refers to the spontaneous, quick thoughts that occur in response to a situation, often without being consciously aware of them, influencing emotions and behaviors.