Which of the Following Statements About the Need to Make

question 235

Multiple Choice

Which of the following statements about the need to make accrual adjustments at the end of the accounting period is not correct?

• A)Certain events occur over time that would be too tedious and time-consuming to record on a daily basis.
• B)Since financial statements are prepared at the end of the period,the asset and liability account balances should be brought up to date.
• C)The Cash account should be adjusted for the effects of accrued revenues and expenses during the accounting period.
• D)Revenues and expenses should be recorded in the period in which they occur,even though the cash will be paid or received in a future period.

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Definitions:

Dispositional Attribution

The process of attributing behavior to the internal characteristics or disposition of the individual rather than to external factors.

Cognitive Load

The total amount of mental effort being used in the working memory, influencing one's ability to perform tasks or process information.

Accurate Attribution

Accurate attribution involves correctly identifying the causes or reasons behind one's own or others' behaviors and outcomes.

False Consensus

The tendency to overestimate how much others share our beliefs, attitudes, and behaviors.