Generally Accepted Accounting Principles Require That Companies Use the ____

question 73

Multiple Choice

Generally accepted accounting principles require that companies use the ____ of accounting.

• A) cash basis
• B) deferral basis
• C) accrual basis
• D) account basis

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Definitions:

Light Energy

The visible portion of the electromagnetic spectrum perceived by the human eye and capable of producing illumination.

Electrical Energy

The energy derived from electric potential or kinetic energy, used to power countless devices and systems.

Efficient

Being effective without wasting time, effort, or resources; achieving maximum productivity with minimum wasted effort or expense.

Voltage Drop

Decrease in voltage measured after current passes through a resistance. Also known as voltage loss. See definition for the second of Kirchhoff’s Laws.