Which Statement Is Accurate Regarding the Term Insanity

question 81

Multiple Choice

Which statement is accurate regarding the term insanity ?

• A) Insanity is a legal concept, a number of different standards are used as legal tests of insanity.
• B) Insanity is a psychological term used to describe severe pathology.
• C) Insanity has no psychological or legal meaning, but is used by the media.
• D) Insanity is a legal term that is equivalent with a psychological disorder.

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Definitions:

Period

In finance and business, a period refers to a specific duration of time considered for accounting, reporting, or evaluation purposes.

Accounts

A record within an accounting system that keeps track of financial transactions of a specific type, such as assets, liabilities, revenue, expenses, and equity.

Closing Entries

Adjustments made at the end of an accounting period to transfer balances from temporary to permanent accounts to prepare the books for the next period.

Revenues

Income generated from normal business operations, often from the sale of goods and services to customers.