Which of the Following Are Examples of Categories of the Main

question 36

Multiple Choice

Which of the following are examples of categories of the main normative accounting theories that were developed in the 1950s and 1960s?

• A) current-cost accounting and conservatism
• B) critical theory and opportunity-cost accounting
• C) ABC costing and historical-cost accounting
• D) deprival-value accounting and exit-price accounting

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Definitions:

Service-Warranty Test

An assessment used to determine whether a warranty offers a promise to repair or replace a product, or a promise of a specific level of performance.

UCC

The extensive array of commercial transaction laws in the United States is known as the Uniform Commercial Code.

CISG

The United Nations Convention on Contracts for the International Sale of Goods, a set of rules governing international sales contracts.

International Sale

The process of selling goods or services across national borders, subject to different countries' laws and trade agreements.