OT-Data Are

question 6

Multiple Choice

OT-data are

• A) self-report data.
• B) questionnaire data.
• C) personal life-record data.
• D) objective data.

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Definitions:

Accounting Equation

The fundamental formula in accounting that represents the relationship between assets, liabilities, and owner's equity: Assets = Liabilities + Owner's Equity.

Net Worth

The total assets minus total liabilities of an individual or entity, representing financial position at a specific time.

Generally Accepted Accounting Principles

A collection of commonly-followed accounting rules and standards for financial reporting.

Financial Statement Formats

The specific layout and organization of information within financial documents, such as balance sheets and income statements, which comply with accounting standards.