The Amount at Which an Item Would Be Recorded Assuming

question 88

Multiple Choice

The amount at which an item would be recorded assuming no mistakes in judgment or incorrect applications of generally accepted accounting principles were made is the

• A) audited value.
• B) expected misstatement.
• C) recorded value.
• D) tolerable misstatement.

---

Definitions:

Mendel

Gregor Mendel, a 19th-century scientist and Augustinian monk known as the father of genetics for his work on the inheritance of traits in pea plants which established the laws of Mendelian inheritance.

Classificatory System

An organized method for categorizing and grouping entities based on common characteristics or relationships.

Linnaeus

Carl Linnaeus was an 18th-century Swedish botanist, physician, and zoologist who laid the foundations for the modern biological naming scheme of binomial nomenclature.

Natural Selection

A key mechanism of evolution, where organisms better adapted to their environment tend to survive and produce more offspring.