The Assumption That Allows Accountants to Accept Some Inaccuracy,because of Incomplete

question 109

Multiple Choice

The assumption that allows accountants to accept some inaccuracy,because of incomplete information about the future,in exchange for more timely reporting is:

• A)conservatism.
• B)time period.
• C)business entity.
• D)materiality.
• E)realization.

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Definitions:

Business Cycles

Fluctuations in economic activity over time, characterized by periods of expansion (growth) and contraction (recession) in the economy.

CPFR Process

Collaborative Planning, Forecasting, and Replenishment, a process where supply chain partners share forecasts and plans to enhance supply chain efficiency.

Outbound-To-Customer

Logistic processes and activities involved in moving goods from the final storage hub to the end customer.

Physical Distribution

The activities involved in moving goods from the point of production to the point of consumption.