Which One of the Following Assumptions or Principles Most Logically

question 45

Multiple Choice

Which one of the following assumptions or principles most logically supports the preparation of a single set of consolidated financial statements that combines the financial information of several wholly owned but separately identifiable businesses?

• A)historical cost
• B)industry practices
• C)entity
• D)materiality

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Definitions:

Psychosocial Development

The development process that involves changes in both psychological and social aspects throughout an individual's lifetime.

Erickson

Refers to Erik Erikson, a developmental psychologist known for his theory on the psychosocial development of humans.

Developmental Psychologist

A specialist in psychology who studies how and why human beings change over the course of their life.

Nonadaptive Coping Skill

Strategies or behaviors that are ineffective or counterproductive in managing stress or addressing problems, often worsening the situation.