Which of the Following Concepts Was a Commonality of Early

question 49

Multiple Choice

Which of the following concepts was a commonality of early Greek theories on how life started and how diverse living forms arose?

• A) divine creation
• B) spontaneous generation
• C) uniformitarianism
• D) inheritance of acquired characteristics

---

Definitions:

Opening Balance Sheet

Opening Balance Sheet is a financial statement showing a company's assets, liabilities, and equity at the beginning of an accounting period, providing a starting point for the year's transactions.

Comparative Information

Financial data presented for multiple periods or dates to allow users to identify trends, changes, and financial performance over time.

FASB-IASB Convergence

The effort by the Financial Accounting Standards Board (FASB) and the International Accounting Standards Board (IASB) to align U.S. Generally Accepted Accounting Principles (GAAP) with International Financial Reporting Standards (IFRS).

Revenue Recognition

An accounting principle that delineates the specific conditions under which revenue is recognized and determines how to account for it.