Who Are the Individuals or Groups That Have Some Basis

question 33

Multiple Choice

Who are the individuals or groups that have some basis of concern about a social program?

• A) Sponsors
• B) Clients
• C) Stakeholders
• D) Researchers
• E) Professors

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Definitions:

Materiality Constraint

An accounting principle that permits ignoring rules following the generally accepted accounting principles (GAAP) if the impact of adhering to them is so insignificant that it would not affect the decision-making process of someone reading the financial statements.

Unusual Gain

Gains that are not expected to recur frequently or regularly, arising from events not considered part of the ordinary activities of a business.

Annual Report

A comprehensive report on a company's activities, financial performance, and strategy, provided annually to shareholders and the public.

Allowance Method

An accounting technique used to estimate and prepare for the amount of accounts receivable that may not be collectible.