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Which of the Following Is Not a Best Practice

question 10

Multiple Choice

Which of the following is not a best practice?

Interpret and journalize transactions involving sales taxes, credit terms, and payment discounts.
Construct a multiple-step income statement, including separation of operating and non-operating activities.
Design a chart of accounts for a merchandising business, incorporates balance sheet and income statement order.
Determine the impact of specific transactions on the accounting equation.

Definitions:

Selective Perception

The process by which individuals focus on certain stimuli within their environment while ignoring others, influenced by their interests, background, and attitudes.

Projection Errors

Mistakes in judgment where one's own thoughts, motivations, or feelings are attributed to someone else.

Self-Awareness

The conscious knowledge of one's own character, feelings, motives, and desires.

Halo Effect

A cognitive bias in which an observer's overall impression of a person, company, brand, or product influences the observer's feelings and thoughts about that entity's character or properties.

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