Arithmetical Mistakes,use of Inappropriate Accounting Principles,incorrect Application of Accounting Principles,and

question 14

Multiple Choice

Arithmetical mistakes,use of inappropriate accounting principles,incorrect application of accounting principles,and disagreements about valuation or other estimates are the causes of ________.

• A)fraud
• B)misstatements
• C)materiality
• D)adjustments

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Definitions:

Lewis Terman

An American psychologist best known for his revision of the Stanford-Binet Intelligence Scales and research on gifted children.

Tacit Knowledge

Knowledge that is difficult to transfer to another person by writing it down or verbalizing it.

Formal Knowledge

Pertains to information or skills acquired through structured learning or education systems.

Explicit Knowledge

Knowledge that is well documented, easily articulated, and shared, including facts, procedures, and information that can be easily communicated to others.