Which of the Following Is Not True Regarding the Asset-Liability

question 36

Multiple Choice

Which of the following is not true regarding the asset-liability approach to defining accounting elements?

• A)The asset-liability approach focuses on the measurement of net assets.
• B)The asset-liability approach is arguably superior to the revenue-expense approach.
• C)The asset-liability approach is the basic orientation of current financial reporting practices.
• D)SFAS No. 109 uses the asset-liability approach by focusing income tax accounting on the recognition of tax assets and liabilities.

---

Definitions:

Multicultural Therapies

Psychotherapy approaches that recognize and address the diverse cultural backgrounds of clients, incorporating cultural knowledge and sensitivity into treatment.

Identity Politics

An approach to politics or activism that focuses on issues relevant to various social and cultural identities, including race, gender, and sexuality.

Clinical Trials Research

The systematic study designed to evaluate the effects and safety of medications or medical devices by monitoring their outcomes on large groups of people.

Solution-Focused Therapy

A brief therapeutic approach focusing on finding solutions in the present time and exploring one’s hope for the future to find quicker resolutions of one’s problems.