Most Accounting Policy Choices Affect Both the Income Statement and the Balance

question 39

Multiple Choice

Most accounting policy choices affect both the income statement and the balance sheet.Select the balance sheet account(s) that would be affected by a policy choice at the same time as the wages expense income statement account.

• A) accounts receivable
• B) inventories
• C) prepaid expenses,accrued expenses and liabilities
• D) property,plant and equipment; intangible and leased assets.

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Definitions:

Sampling Bias

The bias that occurs when a sample is not representative of the population from which it's drawn.

Self-Administered Survey

A data collection method where respondents complete the survey on their own without the aid of an interviewer.

Observational Studies

Research methods that involve observing and analyzing the natural behavior of subjects without influencing or controlling the variables.

Experiments

A procedure undertaken to make a discovery, test a hypothesis, or demonstrate a known fact.