Which of the Following Sets Includes Only Accounting Assumptions and Conventions

question 41

Multiple Choice

Which of the following sets includes only accounting assumptions and conventions?

• A)timeliness, prudence, historical cost, and neutrality
• B)matching, comparability, period of time, and reliability
• C)monetary unit, going concern, relevance, and materiality
• D)monetary unit, entity, going concern, and realization-recognition

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Definitions:

Relevant

Pertains to something closely connected or appropriate to what is being done or considered.

Aspirational

Pertaining to products, brands, or lifestyles that consumers admire and desire to obtain, often because they symbolize a higher social status or idealized self-image.

Time-Specific

Refers to strategies, actions, or goals that are planned with a particular time frame in mind.

CRM Software

Technology platforms designed to manage a company's interactions with current and potential customers, integrating and automating sales, marketing, and customer support.