The Accounting Principle That Requires That Transactions Are to Be

question 3

Multiple Choice

The accounting principle that requires that transactions are to be expressed using units of money in the currency of the country in which the company primarily operates as the common denominator is the

• A) business entity principle
• B) currency
• C) going concern principle
• D) historical cost principle
• E) revenue recognition principle

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Definitions:

Sandstone

A sedimentary rock composed mainly of sand-sized mineral particles or rock fragments.

Avalanche

A rapid flow of snow, ice, and possibly debris down a mountain slope, often triggered by factors like weather, temperature, and disturbances.

Imbricated Clasts

Rock fragments arranged in a way that they overlap each other like shingles on a roof, typical in sediment deposited by flowing water.

Earthquake

A sudden and violent shaking of the ground, often caused by movement within the Earth's crust or volcanic action.