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:

Observational Learning

The process of learning behaviors by watching the behaviors of others and the consequences they face.

First Impression

The initial perception one forms about another person or thing, which can be influenced by various factors and may not be accurate.

Dream Job

An ideal or highly desired job or career position for an individual, often seen as fulfilling both personal passions and professional aspirations.

Partial Reinforcement

A conditioning strategy in which a reward is not administered every time the desired response is performed, leading to more resilient behavior.