What accounting constraint refers to the tendency of accountants to resolve uncertainty in a way least likely

Question:

What accounting constraint refers to the tendency of accountants to resolve uncertainty in a way least likely to overstate assets and net income?

(a) Comparability.

(b) Materiality.

(c) Conservatism.

(d) Consistency.

Fantastic news! We've Found the answer you've been seeking!

Step by Step Answer:

Related Book For book-img-for-question

Accounting Tools For Business Decision Making

ISBN: 9780470377857

3rd Edition

Authors: Paul D. Kimmel

See More Books

Question Posted: May 12, 2024 04:01 AM

See More Questions

Using the article Comparing Crime Rates between Undocumented Immigrants, Legal Immigrants, and Native-born US citizens in Texas, write a 2-3 page-paper (double-spaced, 1-inch margins, times roman...
Required a. Use professional judgment in deciding on the preliminary judgment about materiality for earnings, current assets, current liabilities, and total assets. Your conclusions should be stated...
In Chinese legal history, we can observe the tension between Fa and Li. Fa refers to formal law, punishment, sanction. Li refers to the tendency toward mediation, conciliation, consensus. Fa was...
Jake Drewrey has total fixed monthly expenses of $ 1,340 and his gross monthly income is $3,875. What is his debt-to-income ratio? How does his ratio compare to the desired ratio?
For each of the DEs in Problems, tell whether and where you expect vertical asymptotes or oblique asymptotes. Use the direction .field to support your case, and state any other arguments. (You are...
Part of your company's accounting database was destroyed when Godzilla attacked the city. You been able to gather the following data from your files. Reconstruct the remaining information. Using'"...
For Advent Company, the budgeted cost for one unit of product is direct materials $$10$, direct labor $$20$, and manufacturing overhead 80% of direct labor cost. If 25,000 units are expected to...
Sunny Systems manufactures solar panels. The company has a theoretical capacity of 50,000 units annually. Practical capacity is 80 percent of theoretical capacity, and normal capacity is 80 percent...
If AJHIAJLK then what does JH = 7 =1 OZK OLK OKJ
What was Tootsie Roll's largest current asset, largest current liability, and largest item under "Other assets" at December 31, 2007 ?
Verifiability is an ingredient of: Reliability (a) Yes Relevance Yes (b) No No (c) Yes No (d) No Yes
In the following, without computing the actual probabilities, state whether the probability is greater than 0.5, lower than 0.5, equal to 0.5, or if it is not possible to tell just by common sense....
Twitter Productions, Inc. has manufactured 10,000 units of product Tweets in September at the following costs: Opening work in process inventory P 44,062.50 Indirect materials used (10% of materials...
A company had pretax accounting income of $ 1 , 5 0 0 , 0 0 0 . The company had the following data: Income from exempt municipal bonds: $ 7 0 , 0 0 0 Depreciation for tax purposes in excess of...
Performance management systems. Summarize the main discussion points from the articles that you have read and detail the implications for employees. Select three examples of these best practices in...
(b) Sodium chloride is an ionic compound with the chemical formula NaCl. (i) Give the electron configurations of sodium (Na) and chlorine (Cl) using spdf notation. [2 marks] (ii) Use electron...
Motor grader with a diesel engine of 180 HP has an initial cost of 594,000. Its estimated useful life is 6 years and it is anticipated that it will be used an average of 2,000 hours per year. The...
Anethole, C10H12O, a major constituent of the oil of anise, has the 1H NMR spectrum shown. On oxidation with Na2Cr2O7, Anethole yields p-methoxybenzoic acid. What is the structure of Anethole? Assign...
Modify the CYK algorithm so that it applies to any CFG, not just those in CNF.
If Total Liabilities increase, which of the following MUST be true?Group of answer choicesAssets MUST increaseAssets minus owners equity Must increaseOwners equity MUST increaseOwners equity minus...
I want write Introduction for my accounting assignment. I have chosen Pearson Corporation as my company and the same Introduction should be from accounting point of view. Also need to give...
Why does seasonality of sales pose particular problems for companies preparing interim reports? Select answer from the options below Annual sales cannot be reliably projected, causing variability in...

What accounting constraint refers to the tendency of accountants to resolve uncertainty in a way least likely

Question:

Step by Step Answer:

Accounting Tools For Business Decision Making

Students also viewed these Business questions