Complete the Following Using the Terms Listed

question 99

Multiple Choice

Complete the following using the terms listed.
-The accounting method that records revenues and expenses when they occur is called _____.

• A)certified public accountant
• B)International Financial Reporting Standards
• C)asset
• D)liability
• E)Owners' equity
• F)accounting equation
• G)balance sheet
• H)income statement
• I)Sarbanes-Oxley Act (SOX)
• J)accrual accounting
• K)open book management
• L)budget
• M)generally accepted accounting principles (GAAP)
• N)Financial Accounting Standards Board (FASB)
• O)profitability ratios
• P)International Accounting Standards Committee (IASC)
• Q)Leverage ratios
• R)management accountant

---

Definitions:

Additional Time

Extra time allocated beyond the originally planned or scheduled duration, often to complete a task or accommodate unforeseen delays.

Starting Phase

The initial period or stage of a process or activity during which things are set in motion.

Interdependencies

Mutual dependencies between tasks, processes, or entities where the outcome or performance of one is reliant on another.

Tasks

Specific pieces of work or activities assigned to an individual or a group to be completed.