Adjusting Entries Help Achieve the Goals of Accrual Accounting by Applying

question 7

Multiple Choice

Adjusting entries help achieve the goals of accrual accounting by applying the following two accounting principles:

• A)Business entity concept and realization principle.
• B)Cost principle and the accounting equation.
• C)Realization principle and matching principle.
• D)Matching principle and safety principle.

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Definitions:

Flow

A psychological state in which an individual is fully immersed and engaged in an activity, experiencing a sense of enjoyment and focus.

Instrinsically Rewarding

Activities or actions that are rewarding in themselves, providing personal satisfaction and pleasure without the need for external rewards.

Flow

describes a mental state of being fully immersed and engaged in an activity, where time seems to pass unnoticed, and the person is performing at their maximum potential.

Work

An activity that produces something of value for others.