The Accounting Assumption That a Business Will Continue to Operate

question 8

Multiple Choice

The accounting assumption that a business will continue to operate into the foreseeable future is the:

• A) going concern assumption.
• B) accounting period assumption.
• C) entity assumption.
• D) historical cost assumption.

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Definitions:

Exchange Rate

The rate at which one currency can be exchanged for another, often influencing international trade and investments.

Exchange Rates

The rate at which one currency will be exchanged for another.

Meals

Prepared food items meant for immediate consumption.

Tours

Organized trips or excursions, often for leisure, education, or cultural purposes.