The Accounting Principle That Guides Accountants,when Faced with a Recognition

question 67

Multiple Choice

The accounting principle that guides accountants,when faced with a recognition dilemma,to choose the alternative that produces the lowest net income is referred to as

• A)the matching concept.
• B)internal control.
• C)conservatism.
• D)materiality.

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Definitions:

Pleasure Principle

A psychoanalytic concept that suggests individuals seek pleasure and avoid pain in order to satisfy biological and psychological needs.

Reality Principle

A psychoanalytic concept describing the process through which ego seeks to satisfy desire in realistic and socially appropriate ways, balancing the demands of the id and the super-ego.

Unconditional Positive Regard

A concept in humanistic psychology where an individual is accepted and loved as they are without conditions or judgment.

Conditions of Worth

Concepts in humanistic psychology referring to the stipulations set by individuals or society that dictate when people are worthy of respect or approval.