The Approach to Preparing Financial Statements Based on Recognizing Revenues

question 218

Multiple Choice

The approach to preparing financial statements based on recognizing revenues when they are earned and matching expenses to those revenues is:

• A)Cash basis accounting
• B)The matching principle
• C)The time period principle
• D)Accrual basis accounting
• E)Revenue basis accounting

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Definitions:

Nondisjunction

An error in cell division that results in daughter cells with abnormal numbers of chromosomes.

Zygote Combinations

Describes the various genetic outcomes possible when gametes merge during fertilization to form a zygote.

Linkage Group

is a group of genes on a chromosome that tend to be inherited together, due to their physical proximity to each other.

Chromosome 19

One of the 23 pairs of chromosomes in humans, known for containing genes that are involved in a wide range of bodily functions and diseases.