There Are Some Liabilities,such as Income Tax Payable,for Which the Amounts

question 30

Multiple Choice

There are some liabilities,such as income tax payable,for which the amounts must be estimated.Failure to estimate these amounts and record them would be a violation of the

• A)matching principle.
• B)convention of conservation.
• C)practice of consistency.
• D)concept of historical cost.

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Definitions:

Tort Against Property

A civil wrong that causes harm to someone's property, including acts of trespass, vandalism, or theft.

Trespass

An unlawful act of entering or encroaching upon someone else's property without permission, which can lead to legal action.

Trespass To Land

A legal concept referring to the unauthorized entry onto someone else's property, which can lead to civil liability.

Unauthorized Entry

Accessing a place or a system without permission or legal right.