Which of the Following Accounting Concepts/principles Is Most Significant in the Development

question 45

Multiple Choice

Which of the following accounting concepts/principles is most significant in the development of a capitalization policy?

• A)Matching of revenue and expense.
• B)Materiality.
• C)Original Cost.
• D)Consistency.

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Definitions:

Adolescence

The phase of both mental and physical growth occurring from puberty until one achieves legal adulthood.

Genital Stage

In psychoanalytic theory, the final stage of Freud's psychosexual development, beginning in puberty, where sexual maturation is complete and sexual interests become concentrated on genitalia.

Continuous Societies

Societies in which transitions to maturity, including work and other adult responsibilities, are slow and steady, resulting in little emotional storm and stress.

Emotional Storm

A intense period of strong and often overwhelming emotions, typically associated with difficult experiences or transitions.