The "Corridor Principle" Is Best Described by Which of the Following

question 26

Multiple Choice

The "corridor principle" is best described by which of the following statements?

• A)If at first you don't succeed, try, try, again.
• B)Being in the right place at the right time.
• C)With every new venture launched, new and unintended opportunities arise.
• D)Luck happens when preparation meets opportunity.

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Definitions:

Temporary/Permanent

Categories of accounts in accounting: temporary accounts are closed at the end of the fiscal year, while permanent accounts are carried over across accounting periods.

General Journal Entries

Records of financial transactions in chronological order as part of the double-entry bookkeeping system.

Effective Interest Rate

The real rate of interest earned or paid on an investment, loan, or other financial product, taking into account the effects of compounding.

Bank Loan

Money lent to an individual or business by a bank, typically requiring repayment with interest.