Which of the Following Is Not an Example of an Accounting

question 122

Multiple Choice

Which of the following is not an example of an accounting error,as distinguished from a change in accounting principle or change in estimate?

• A) Misstatement of an accounting value, such as inventory, deferred charge or credit, liabilities, or owners' equity.
• B) Incorrect classification of expenditure as between expense and an asset.
• C) Incorrect or unrealistic allocations of accounting values.
• D) Failure to recognize accruals and deferrals.
• E) Recognition of a gain on disposal of fully depreciated property.

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Definitions:

Standards For Performance

The expected levels of achievement or excellence within a particular area.

Babble Effect

A phenomenon in group or network communication where an increase in messages leads to information overload, reducing the overall coherence and effectiveness of communication.

Talk Most

An observational phenomenon where the person who talks the most in a group is often perceived to be the leader or most influential member, regardless of the quality of their contributions.

High Quality

Characterized by superior standards, excellence, or craftsmanship in the delivery of a specific product, service, or performance.