One Criticism of GAAP Is That It Is Too Rigid

question 101

True/False

One criticism of GAAP is that it is too rigid and fails to take into account the fact that one size doesn't fit all in accounting.

---

Definitions:

Unconditioned Stimulus

In conditioning, a stimulus that naturally and automatically triggers a response without prior learning.

Extinction

In psychology, the gradual weakening and disappearance of a conditioned response when the conditioned stimulus is no longer paired with the unconditioned stimulus.

Neutral Stimulus

A neutral stimulus is something in the environment that initially does not elicit any intrinsic response until it is paired with an unconditioned stimulus.

Conditioned Stimulus

An initially neutral signal that, once it is linked with a natural stimulus, eventually elicits a learned response.