Which of the Following Account Titles Are Not Allowed Under

question 86

Multiple Choice

Which of the following account titles are not allowed under GAAP?

• A) Revaluation reserves
• B) Provisions
• C) Capital
• D) Revaluation reserves and provisions

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Definitions:

Natural Variations

Random fluctuations in the output or process of a system that are inherent and unavoidable.

Consumer's Risk

The probability that a defective product will pass through a quality inspection process and reach the consumer.

Defects

Imperfections, faults, or flaws in a product or process that deviate from the desired specifications or standards.

C-chart

A control chart used for monitoring the number of defects per unit in manufacturing or production processes.