The Principle That Accountants Do Not Have to Account for Every

question 70

Multiple Choice

The principle that accountants do not have to account for every last item in strict accordance with the accounting rules is known as the:

• A)relevance principle.
• B)cost principle.
• C)materiality principle.
• D)going-concern principle.

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Definitions:

Nicotine Addiction

Nicotine addiction is a dependency on nicotine, a chemical found in tobacco products, characterized by compulsive use and withdrawal symptoms upon cessation.

Finger Habits

Repetitive behaviors involving the fingers, such as tapping, twirling, or biting, which can be benign or indicative of anxiety or nervousness.

Type II Alcoholism

A category of alcoholism characterized by early onset, genetic predisposition, and often associated with antisocial personality traits.

Men

Adult male human beings, often studied in various scientific and sociocultural contexts.