Which of the Following Is Good Advice About Recording Observations

question 14

Multiple Choice

Which of the following is good advice about recording observations in the field?​

• A) ​Don't trust your memory any more than you have to.
• B) ​You must always constantly take notes while you are observing.
• C) ​Make at least six copies of your notes.
• D) ​Advance preparation on recording anticipated observations will hinder recording unanticipated observations.

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Definitions:

Continuing Operations

Part of a company's business that is expected to continue operating into the foreseeable future, excluding any discontinued operations.

Unusual Items

Nonrecurring or unique charges or gains that are not expected to happen regularly, such as costs from lawsuits, restructuring, or natural disasters, that are reported separately in a company's financial statements.

Accounting Principles

Principles that provide the framework upon which accounting standards are constructed.

Common-Sized Financial Statements

Financial statements that present all line items as a percentage of a common base figure, facilitating comparison across periods or companies.