Which Financial Statement Is Prepared as of a Specific Date

question 58

Multiple Choice

Which financial statement is prepared as of a specific date?

• A) The balance sheet.
• B) The income statement.
• C) The statement of cash flows.
• D) All three of the above are for a period of time rather than at a specific date.

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Definitions:

Neutralizing

Attempting to eliminate thoughts that one finds unacceptable by thinking or behaving in ways that make up for those thoughts and so put matters right internally.

Cognitive-Behavioral Perspective

A psychological approach that emphasizes the role of thought processes and behaviors in understanding and treating mental disorders.

Neutralizing

A psychological mechanism that attempts to counteract or nullify uncomfortable or distressing thoughts and emotions.

Checking Compulsion

A form of obsessive-compulsive disorder characterized by the need to check things repeatedly, such as locks or appliances, driven by fear and anxiety.