Juan Has an Accounting Philosophy According to Which He Keeps

question 85

Multiple Choice

Juan has an accounting philosophy according to which he keeps the loans borrowed from the business separate from the loans he takes from banks for his own purposes.Which of the following basic accounting concepts is reflected in Juan's accounting philosophy?

• A) The business entity idea
• B) The going concern expectation
• C) The accounting equation
• D) The revenue and expense premise

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Definitions:

Achievement Needs

The drive or desire within an individual to accomplish goals and excel, often linked to motivation theory.

Reinforcement Theory

Explains human behavior in terms of repetition. Behavior that is rewarded enough times will be repeated, where behavior that repeatedly receives no reward will probably discontinue.

Goal Setting

The process of identifying something that you want to accomplish and establishing measurable objectives and timeframes.

McClelland

A psychologist known for his work on motivation, particularly the theory of needs, which includes achievement, power, and affiliation.