The Assumption That Allows Accountants to Accept Some Inaccuracy,because of Incomplete

question 109

Multiple Choice

The assumption that allows accountants to accept some inaccuracy,because of incomplete information about the future,in exchange for more timely reporting is:

• A)conservatism.
• B)time period.
• C)business entity.
• D)materiality.
• E)realization.

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Definitions:

Nature-nurture Issue

The debate surrounding the relative contributions of genetic inheritance (nature) and environmental factors (nurture) to human development and behavior.

Natural Selection

In evolutionary biology, a procedure where life forms more effectively adjusted to their habitat are more apt to thrive and reproduce at a greater rate.

Charles Darwin

A British naturalist best known for his contributions to the science of evolution and the theory of natural selection.

Evolution

The method through which various types of living beings are believed to have evolved and varied from ancient predecessors throughout Earth's history.