Which Statement Is TRUE

question 68

Multiple Choice

Which statement is TRUE?

• A) YACs are more likely than BACs to undergo recombination and rearrangement.
• B) BACs are more likely than YACs to undergo recombination and rearrangement.
• C) YACs and BACs undergo recombination and rearrangement at about the same rate.
• D) It is impossible to state with any certainty whether YACs or BACs are more likely to undergo recombination and rearrangement, because environmental factors play a major role in the probability of one or the other occurring.

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Definitions:

Expenses Paid

Refers to the amounts of money disbursed to cover operating costs or charges incurred in the conduct of a business.

Expense Recognition Principle

An accounting principle that expenses should be recognized in the period in which they are incurred, matching them with the revenues they help to generate.

Time Period Assumption

An accounting principle that allows an organization to divide its economic activities into specific time periods such as months, quarters, or years for reporting purposes.

Adjusting Entries

Closing entries in accounting at the end of a period to ensure income and expenses are attributed to the period in which they took place.