One of the Accounting Concepts Upon Which Adjustments for Prepayments

question 15

Multiple Choice

One of the accounting concepts upon which adjustments for prepayments and accruals are based is:

• A)expense recognition.
• B)cost.
• C)monetary unit.
• D)economic entity.

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Definitions:

Plate Tectonics

This is the scientific theory that explains the large-scale motion of Earth's lithosphere, which is divided into tectonic plates.

Earth's Crust

The outermost layer of the Earth, composed of solid rocks and minerals, which is both continental and oceanic in type.

Unique Traits

Characteristics or features that distinguish an individual or species from others.

Adaptive Trait

A characteristic of an organism that has been favored by natural selection and increases the fitness of the individual in its environment.