Which of the Following Concepts Is Important to Accrual Accounting

question 8

Multiple Choice

Which of the following concepts is important to accrual accounting?

• A)Time period,because accrual accounting divides earnings into time periods
• B)Monetary unit,because inflation is a big factor in the environment
• C)Cash basis,because if cash is not received,revenue is not accrued
• D)Entity concept,because personal transactions must be separated from business transactions

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Definitions:

Climates

Refers to the prevailing weather conditions in a geographical area over long periods, but can also relate to the general atmosphere or environment in a specific setting.

Task-oriented Behavior

A behavior focused on efficiently completing tasks and achieving goals, often with a emphasis on technical or operational aspects.

Socioemotional Support

The provision of emotional and social assistance to individuals, enhancing their ability to cope with stress and challenges.

Traits

Characteristics or qualities that define an individual's personality, behavior, and mannerisms.