Accrual Accounting and the Adjusting Process Rely on Two Principles

question 13

Short Answer

Accrual accounting and the adjusting process rely on two principles: the ________ principle and the ________ principle.

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Definitions:

Think

The process of using reason or mental faculties to consider ideas, make decisions, or reflect on various subjects.

Feel

An experience of emotion or sensation, often used to describe a subjective, internal state.

Symbolic Interactionism

A sociological perspective focusing on how individuals interact with each other through symbols, language, and shared meanings, shaping their social realities.

Negotiated Interaction

The process through which individuals communicate and reach an agreement or understanding, often in the context of social relationships.