The Accounting Principle That Requires Accounting Information to Be Based

question 12

Multiple Choice

The accounting principle that requires accounting information to be based on actual cost and requires assets and services to be recorded initially at the cash or cash-equivalent amount given in exchange,is the:

• A)Accounting equation.
• B)Measurement (Cost)principle.
• C)Going-concern assumption.
• D)Realization principle.
• E)Business entity assumption.

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Definitions:

Award

Recognition given for achieving a specific accomplishment or meeting a particular criteria.

Key Revenue Drivers

Critical factors or activities that significantly influence a company's revenue generation capability.

Customers

People who populate the segments of a market served by the offering.

Frequency

The rate at which something occurs over a particular period of time or in a given sample.