The General Term Employed to Indicate an Expense That Has

question 29

Multiple Choice

The general term employed to indicate an expense that has not been paid or revenue that has not been received and has not yet been recognized in the accounts is a(n)

• A) contra asset.
• B) prepayment.
• C) asset.
• D) accrual.

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Definitions:

Demand Characteristics

Cues in an experiment that suggest to participants what behavior is expected, potentially influencing the outcomes of that experiment.

Falsifiable

A principle that a hypothesis or theory must be capable of being proven false in order to be considered scientific.

Testable Predictions

Hypotheses or statements that can be verified or falsified through experimentation or observation.

Principle of Parsimony

A principle suggesting that one should not make more assumptions than the minimum needed to explain something.