An Accountant Recognizes the Impact of a Business Event as It

question 34

Multiple Choice

An accountant recognizes the impact of a business event as it occurs and accounts for it appropriately under which basis of accounting?

• A)Cash
• B)Prepaid
• C)Accrual
• D)Deferred

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Definitions:

Lynch Mob

A group of people who, without legal authority, come together to execute a presumed offender, often by hanging, primarily targeting African Americans.

Springfield, Ohio

A city in the United States known for its historical contributions to industry, education, and the antislavery movement.

Black Section

A designated area or part of an organization, community, or geographical area predominantly inhabited by or reserved for African Americans or people of African descent.

Virgin Islands

A group of islands in the Caribbean, comprising territories of the United States and the United Kingdom.