The Type of Accounting Required by GAAP Is

question 32

Multiple Choice

The type of accounting required by GAAP is:

• A)modified cash.
• B)hybrid cash.
• C)cash.
• D)accrual.

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Definitions:

Res Ipsa Loquitur

A legal doctrine that infers negligence from the very nature of an accident or injury, in the absence of direct evidence.

Strict Liability

A legal doctrine holding an individual or entity responsible for damages or injury regardless of fault or intent.

Radioactive Waste

Dangerous by-products of nuclear reactors, nuclear weapon production, and other processes involving radioactive materials, requiring special handling and disposal to protect human health and the environment.

Nuclear Waste

Radioactive materials remaining after they have been used in generating nuclear energy or other applications of nuclear technology.