The Fundamental Purpose of Accounting Standards Is to Improve

question 42

Multiple Choice

The fundamental purpose of accounting standards is to improve

• A)Accountants ethics.
• B)Social accountability.
• C)Company profits.
• D)Resource allocation.

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Definitions:

Seligman

Refers to Martin Seligman, a psychologist known for his work on the theory of learned helplessness and for promoting positive psychology.

Prepared Behaviors

Instinctual or predisposed behaviors that organisms are born with, which enhance survival and adaptation.

Open Program

A flexible framework or guideline that allows adjustment and modifications based on feedback or changing conditions.

Closed Program

A system or operation that is not open to external influences or modifications, often operating within a restricted or predefined set of rules.