The Accounting Concept That Requires Financial Statement Information to Be

question 185

Multiple Choice

The accounting concept that requires financial statement information to be supported by independent,unbiased evidence is:

• A)Business entity assumption.
• B)Revenue recognition principle.
• C)Going-concern assumption.
• D)Time-period assumption.
• E)Objectivity principle.

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Definitions:

Competencies

A combination of skills, knowledge, and abilities required to perform a job effectively.

Skills Model

A framework that identifies a set of capabilities which are believed to contribute to effective leadership.

Leadership

The act of guiding or influencing a group towards achieving a common goal, through inspiration, strategy, and direction.

Health Savings Account

A tax-advantaged savings account available to taxpayers in the United States who are enrolled in a high-deductible health plan, designed to pay for qualified medical expenses.