Which One of the Following Is Not a Justification for Adjustments

question 133

Multiple Choice

Which one of the following is not a justification for adjustments?

• A)Adjustments are necessary to ensure that the revenue recognition principle is followed.
• B)Adjustments are necessary to ensure that the expense recognition principle is followed.
• C)Adjustments are necessary to enable financial statements to be in conformity with GAAP.
• D)Adjustments are necessary to bring the accounts in line with the budget.

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Definitions:

Existentialism

The approach to philosophy that focuses on conscious experience (phenomenology), free will, the meaning of life, and other basic questions of existence.

Sartre

Jean-Paul Sartre, a French existentialist philosopher, playwright, and novelist known for his exploration of freedom, existentialism, and the human condition.

Nietzsche

A German philosopher known for his exploration of individual morality, the will to power, and the critique of religion.

Optimistic View

A tendency to look on the more favorable side of events or conditions and to expect the most favorable outcome.