The Accounting Concept That Requires Recognition of a Liability for Customer

question 26

Multiple Choice

The accounting concept that requires recognition of a liability for customer premium offers is:

• A)Periodicity.
• B)Conservatism.
• C)Historical cost.
• D)The matching principle.

---

Definitions:

Sample Mean

The average value obtained from a sample, a subset of a larger population.

Population Mean

The average of a set of values in the entire population.

Margin of Error

An expression of the extent to which a sample statistic may differ from the true population parameter; it quantifies uncertainty in estimation.

Z Value

A measure in statistics that represents the number of standard deviations a data point is from the mean.