The Rules of Accounting Generally Require That ________ Costs Be

question 77

Multiple Choice

The rules of accounting generally require that ________ costs be used for purposes of keeping a company's financial records and for paying taxes.These costs are sometimes called ________ costs.

• A)economic; legal
• B)real; explicit
• C)total; economic
• D)explicit; accounting

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Definitions:

Work of Art

An object or creation that is made with the intent of expressing thought, emotions, beliefs, or a particular aesthetic quality, recognized for its beauty or conceptual importance.

Historical Treasure

An item or artifact of significant historical, cultural, or monetary value recognized for its contribution to understanding the past.

Financial Section

Part of a company's annual report or filings that contains financial statements, notes, and commentaries pertinent to the financial performance and position of the company.

CAFR

Comprehensive Annual Financial Report, detailed financial report used by governments to provide a full overview of financial status.