Complete the Following Using the Terms Listed

question 99

Multiple Choice

Complete the following using the terms listed.
-The accounting method that records revenues and expenses when they occur is called _____.

• A)certified public accountant
• B)International Financial Reporting Standards
• C)asset
• D)liability
• E)Owners' equity
• F)accounting equation
• G)balance sheet
• H)income statement
• I)Sarbanes-Oxley Act (SOX)
• J)accrual accounting
• K)open book management
• L)budget
• M)generally accepted accounting principles (GAAP)
• N)Financial Accounting Standards Board (FASB)
• O)profitability ratios
• P)International Accounting Standards Committee (IASC)
• Q)Leverage ratios
• R)management accountant

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Definitions:

Heuristics

Heuristics are cognitive shortcuts or rules of thumb that simplify decision making, often used when facing complex problems or incomplete information.

Algorithms

A set of rules or instructions typically used in computer programming and mathematics to perform calculations or problem-solving operations.

Phonemes

The basic distinctive units of sound in a language that distinguish one word from another, for example, the sounds /p/, /b/, /d/, and /t/ in the English words "pad", "bat", "bad", and "tap".

Morphemes

The smallest grammatical units in a language that carry meaning; they can be words or parts of words (like suffixes or prefixes).