Stephen,an Economics Professor,is Invited by a University to Speak on the Recession

question 65

Multiple Choice

Stephen,an economics professor,is invited by a university to speak on the recession affecting the Spanish economy.Which of the following represents the most ineffective way in which he could fail to establish credibility with the audience?

• A)emphasizing his knowledge and expertise
• B)using hyperbole to discuss his achievements
• C)showing that he can distance himself from emotional situations
• D)demonstrating confidence in his skills
• E)using an endorsement

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Definitions:

Adjusting Entries

Ledger adjustments made at an accounting period's end to distribute income and spending according to the period they occurred.

GAAP

A body of accounting and financial reporting standards and rules widely adopted, defined as Generally Accepted Accounting Principles.

Revenue Recognition

The accounting principle that revenue should be reported at the time goods are sold or services are rendered, regardless of when the payment is received.

Expense Recognition

The accounting principle that matches incurred expenses to the revenue they generate, recognizing expenses in the same period as the related revenues.