Which of the Following Accounting Principles Best Describes the Rationale

question 24

Multiple Choice

Which of the following accounting principles best describes the rationale for reporting a liability for earned but unused compensated absences?

• A) Historical cost
• B) Full disclosure
• C) Materiality
• D) Matching

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Definitions:

NAACP

The National Association for the Advancement of Colored People, a civil rights organization founded in 1909 to fight prejudice, lynching, and Jim Crow segregation.

Sweatt and McLaurin

Reference to Sweatt v. Painter and McLaurin v. Oklahoma State Regents, landmark U.S. Supreme Court cases that challenged segregation in higher education.

Segregation

The enforced separation of different racial groups in a country, community, or establishment, often marked by discriminatory laws and practices.

Civil Rights Movement

A struggle for social justice in the United States during the 1950s and 1960s, aimed at ending racial segregation and discrimination against African Americans.