Which of the Following Is a True Statement About Accounting

question 51

Multiple Choice

Which of the following is a true statement about accounting for business activities?

• A) An overall accounting method can only be adopted with the permission of the Commissioner.
• B) An overall accounting method is initially adopted on the first return filed for the business.
• C) The cash method can only be adopted by individual taxpayers.
• D) The accrual method can only be adopted by corporate taxpayers.
• E) None of these is true.

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Definitions:

Technology

The application of scientific knowledge for practical purposes, especially in industry and in the creation of gadgets and services.

Human Resource Strategy

A plan detailing how a company will manage and develop its workforce to align with its business goals and objectives.

Location

The specific place or position where something exists or is situated.

Hackman and Oldham's

A theory of job enrichment that suggests five job characteristics that, when present, increase job satisfaction and performance.