Which of the Following Is a Policy, and NOT an Objective

question 49

Multiple Choice

Which of the following is a policy, and NOT an objective, in the pay model?

• A)Ethics
• B)Competitiveness
• C)Efficiency
• D)Fairness

Understand the difference between accrual and cash bases of accounting.

Recognize the importance of adjusting entries in the preparation of financial statements.

Understand the principles of revenue recognition and expense recognition (matching principle).

Identify the effects of recording revenues or expenses in incorrect periods.

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Definitions:

Privacy

The right of individuals to keep their personal information out of public view and control the dissemination of that information.

Reclusive

A person or lifestyle characterized by withdrawal from society or preferring solitude and isolation from others.

Actual Malice

Knowledge of falsity or reckless disregard for the truth, especially in defamation law regarding public figures.