The Term for the Type of Accounting That Is Slow

question 39

Multiple Choice

The term for the type of accounting that is slow to assume that good things have happened, and quick to assume bad things have happened, is

• A) Aggressive accounting
• B) Optimistic accounting
• C) Cash-basis accounting
• D) Conservative accounting

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Definitions:

Means of Production

The physical and non-physical inputs used in the production of goods and services, such as factories, machinery, and labor.

Duty-Based Ethics

A moral philosophy that emphasizes the adherence to a set of rules or duties as the basis for ethical behavior.

Mission Statements

Formal summary statements that define the purpose, goals, and values of an organization or company.

Strategic Plans

Frameworks developed by organizations to guide their long-term decision-making and resource allocation based on objectives.