A(n) __________ Is an Object, Person, or Situation That Is

question 49

Multiple Choice

A(n) __________ is an object, person, or situation that is perceived as being capable of satisfying a need or as desirable for its own sake.

• A)drive
• B)impulse
• C)compulsion
• D)incentive

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Definitions:

Revenue Recognition Principle

An accounting principle that dictates the conditions under which revenue is recognized and recorded, emphasizing the realization or earnability of revenue.

Adjusting Entries

Accounting records prepared at the close of a fiscal period to distribute profits and costs to the period they genuinely took place.

Accrued Revenues

Revenues earned by a company for services or goods provided but not yet received or billed to the client.

Cash Basis

An accounting method where revenues and expenses are recorded when they are actually received or paid, not when they are incurred.