In Classifying the Elements of Financial Statements, the Primary Distinction

question 81

True/False

In classifying the elements of financial statements, the primary distinction between revenues and gains is the materiality of the amounts involved.

---

Definitions:

Stimulant

A substance that raises levels of physiological or nervous activity in the body, often used to increase alertness, attention, and energy.

Operant Conditioning

The method of modifying the robustness of a behavior through the application of rewards or disciplinary actions.

Insight Therapy

A type of psychotherapy aimed at increasing a patient's awareness of underlying motives and defenses to improve mental health.

Attention-deficit/hyperactivity Disorder

A neurodevelopmental disorder characterized by a pattern of inattention and/or hyperactivity-impulsivity that interferes with functioning or development.