Which Is the BEST Example of a Dynamic Characteristic

question 74

Multiple Choice

Which is the BEST example of a dynamic characteristic?

• A) the stress level of a trapeze flyer at a circus
• B) the intelligence of a college student during Spring Break
• C) the anti-authority attitude of an inmate serving a life term
• D) None of these

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Definitions:

Accrual Basis

Accrual basis accounting is a method where revenue and expenses are recorded when they are earned or incurred, regardless of when the cash is actually received or paid.

Cash Basis

An accounting method where revenues and expenses are recognized only when cash is received or paid, as opposed to when they are incurred.

Accounts Receivable

Amounts due from customers to a business for delivered or utilized goods or services awaiting payment.

Owners' Equity

The residual interest in the assets of an entity after deducting liabilities, representing the ownership stake of shareholders.