Which of the Following Is Not a Proper Use of Notes

question 66

Multiple Choice

Which of the following is not a proper use of notes?

• A)To describe the nature and effect of a change in accounting principle,such as from FIFO to LIFO.
• B)To indicate the basis for asset valuation.
• C)To indicate the method of depreciation.
• D)To correct an improper financial statement presentation.
• E)To describe a firm's debt.

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Definitions:

Drive To Bond

An innate human drive to form connections and relationships with others.

E-to-P Expectancy

The belief that one's effort (E) will lead to a particular level of performance (P).

Self-confidence

The belief in one's abilities, qualities, and judgment, contributing to an individual's self-assuredness and ability to face challenges.

Four-drive Theory

A model that identifies four basic motivational drives—the drive to acquire, bond, comprehend, and defend—that influence human behavior.