Which Account Balance Is Least Likely to Be Based on an Estimate

question 68

Multiple Choice

Which account balance is least likely to be based on an estimate?

• A)Accounts Receivable
• B)Property,Plant,and Equipment
• C)Accounts Payable
• D)Contingent Liabilities

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Definitions:

Political Decision Making

The process by which government officials, politicians, and leaders make choices that affect a country's policies, laws, and governance.

Organizations

Structured groups of people coming together to achieve common goals, often through a defined hierarchy and rules.

Hedonistic Principle

A philosophical concept suggesting that actions are motivated by the pursuit of pleasure and the avoidance of pain.

Political Might Principle

The concept that political power and influence can significantly impact decision-making processes and outcomes within organizations and societies.