Which of the Following Statements About Accrual Accounting Is NOT

question 31

Multiple Choice

Which of the following statements about accrual accounting is NOT true?

• A) The impact of transactions on the financial statements is recognised when the cash is received or paid.
• B) The financial statements include estimates.
• C) Judgements made by accountants affect profit.
• D) Transactions are recognised at the time when revenue and expenses occur.

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Definitions:

Graphics Display

The visual output device that displays pictures, videos, and animations, produced by computers and other digital devices.

GPU

stands for Graphics Processing Unit, a specialized electronic circuit designed to rapidly manipulate and alter memory to accelerate the creation of images in a frame buffer intended for output to a display device.

Securely Erase Data

A process to permanently and irreversibly remove data from a storage device so that it cannot be recovered.

Overwritten

The process of replacing old data with new data in a storage device.