At the End of the Fiscal Year,an Adjusting Entry Is

question 52

Multiple Choice

At the end of the fiscal year,an adjusting entry is made that increases salaries payable and increases salaries expense.This entry is an application of which accounting principle?

• A)Full disclosure
• B)Materiality
• C)Matching
• D)Realization
• E)Historical cost

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Definitions:

Standard Normal Distribution

A specific type of normal distribution with a mean of 0 and a standard deviation of 1, used in many areas of statistical analysis.

Mean

The arithmetic average of a set of values, calculated by adding them together and dividing by the number of terms.

Normal Distribution

It's a probability distribution with symmetry about the mean, proving that data points near the mean have a higher frequency of occurrence compared to those further away.

Mean

The arithmetic average of a set of numbers, obtained by dividing the sum of the numbers by the count of numbers.