Accrual Accounting,which Attempts to Match Sales Revenues and the Expenses

question 28

Multiple Choice

Accrual accounting,which attempts to match sales revenues and the expenses associated with the production of the goods,is conducted in an attempt to:

• A) reduce income-tax liability.
• B) reduce bias in reported profitability measures.
• C) speed up the receipt of accounts receivable.
• D) reduce the time necessary to depreciate assets.

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Definitions:

Punctual and Polite

Character traits involving being on time for appointments, meetings, etc., and showing courteous behavior towards others.

Conscientiousness

A personality trait characterized by diligence, carefulness, and a desire to do a task well.

Rarely be Late

A habit or characteristic of consistently arriving on time or ahead of the scheduled time.

Situational Constraints

External factors or conditions that limit or dictate the actions one can take in a given context.