A Prediction _____ Is a Specific Measurable Value Based on an Attribute

question 13

Multiple Choice

A prediction _____ is a specific measurable value based on an attribute of the entity under consideration.

• A)indicator
• B)goal
• C)scope
• D)index

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Definitions:

Adjusting Entries

Entries made in journal accounts to correct any discrepancies and ensure that the revenue and expense recognition principles are followed accurately.

Relevant Financial Information

Financial data that is capable of making a difference in business decisions, being timely and having predictive and confirmatory value.

Cash Basis

Cash basis is an accounting method where revenues and expenses are recorded only when cash is received or paid, regardless of when the transactions occurred.

Accounting Period

A specific time period at the end of which an entity prepares financial statements to assess its financial performance and position.