An Accrual Refers to an Event

question 94

Multiple Choice

An accrual refers to an event:

• A) where the asset is recorded after the cash settlement
• B) where the liability is recorded after the cash settlement
• C) where the expense or revenue is recorded after the cash settlement
• D) where the expense or revenue is recorded before the cash settlement

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Definitions:

Safety

The condition of being protected from or unlikely to cause danger, risk, or injury.

Esteem

The respect, admiration, or high regard that an individual is held in by others or themselves; often relates to one's reputation or standing within a community.

Belonging

An emotional need to be part of a group, feeling connected and accepted by others.

Maslow's Need Hierarchy

A theory in psychology that prioritizes human needs in a pyramid structure, from basic physiological needs to self-actualization at the top.