Generally Accepted Accounting Principles

question 44

Multiple Choice

Generally accepted accounting principles:

• A) limit recovery to those with a direct contractual relationship to the accountant.
• B) apply to the way business transactions should be recorded.
• C) give directions to accountants in auditing the books of an enterprise.
• D) protect the investor who is unknown to the accountant when the financial statements are prepared.

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Definitions:

Visual Spatial Reasoning

The ability to mentally manipulate 2-dimensional and 3-dimensional figures and to understand spatial relationships in order to solve problems.

Wechsler Intelligence Scale

A standardized test designed to measure human intelligence in various dimensions.

Spatial Cues

Environmental or sensory indicators that provide information about location, distance, and orientation in space.

Nonwestern Cultures

Societies and cultures that develop outside of the Western European and North American norms and traditions.