Accounting Practices and Procedures Used to Prepare Financial Statements Are

question 83

Multiple Choice

Accounting practices and procedures used to prepare financial statements are called ________.

• A) SEC
• B) IFRS
• C) GAAP
• D) IRB

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Definitions:

Just-World Phenomenon

The cognitive bias that a person's actions are inherently inclined to bring morally fair and fitting consequences to that person, to the end of all noble actions being eventually rewarded and all evil actions eventually punished.

Victims of Misfortune

Individuals who suffer from unfortunate events or circumstances that are beyond their control and often elicit sympathy from others.

Just-World Phenomenon

The cognitive bias to believe that the world is fair and people get what they deserve, leading to rationalizing inequality or suffering.

Ebola Virus

A severe and often fatal disease in humans and primates caused by the Ebola virus, characterized by fever, bleeding, and organ failure.