GAAP States That a Change in Accounting Principle Includes

question 19

Multiple Choice

GAAP states that a change in accounting principle includes

• A) a change from one GAAP to another GAAP
• B) a change in accounting principle because the principle formerly used is no longer generally accepted
• C) a change in the method of applying an accounting principle
• D) All of these choices

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Definitions:

Triplett

Refers to Norman Triplett's early social psychology experiment that identified the phenomenon of social facilitation, where the presence of others enhances performance on simple tasks.

Synergy

The interaction or cooperation of two or more organizations, substances, or other agents to produce a combined effect greater than the sum of their separate effects.

Mere-Effort Model

A theory suggesting that the mere effort of trying to achieve something can enhance the motivational value of the goal.

Social Facilitation

The tendency for people to perform differently when in the presence of others than when alone, typically showing improvement on tasks.