In Uncertain Circumstances,the Conservatism Principle Guides Accountants to

question 90

Multiple Choice

In uncertain circumstances,the conservatism principle guides accountants to

• A)accelerate revenue recognition and delay expense recognition.
• B)accelerate expense recognition and delay revenue recognition.
• C)recognize expense of prepaid items when payment is made.
• D)delay both expense recognition and revenue recognition.

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Definitions:

Employees

Individuals who are hired by an employer to perform specific duties and tasks in exchange for compensation.

Work Arrival

The point in time when an individual presents themselves for their employment duties.

Departure Times

Specifically planned or scheduled times at which something or someone departs or leaves a place.

Flex-Time

A flexible work arrangement that allows employees to alter their start and end times, typically within a set framework.