The Objectivity Principle

question 264

Multiple Choice

The objectivity principle:

• A)Means that information is supported by independent,unbiased evidence
• B)Means that information can be based on what the preparer thinks is true
• C)Means that financial statement should contain information that is optimistic
• D)Means that a business may not recognize revenue until cash is received
• E)Means the assets acquired must be recorded and what the company paid for them

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Definitions:

Sympathetic System

A system of the autonomic division of the nervous system; its general effect is to mobilize energy, especially during stressful situations; prepares the body for a fight, flight, or freeze response. Compare with parasympathetic system.

Parasympathetic System

A division of the autonomic nervous system responsible for the body's rest and digest response, conserving energy and slowing the heart rate.

Neurotransmitters

Chemical messengers that transmit signals across a chemical synapse, from one neuron to another target neuron, muscle cell, or gland cell.

CNS

The Central Nervous System (CNS) consists of the brain and spinal cord, functioning as the control center for processing and sending commands to the body.