Which One of the Following Is Violated When a Sole

question 98

Multiple Choice

Which one of the following is violated when a sole proprietorship records its magazine stand at the present value of the cash flows expected to be earned from the sale of magazines over the expected life of the stand?

• A)Original cost
• B)Fair market value
• C)Going concern
• D)Revenue recognition

---

Definitions:

Credit Counseling

A service that offers guidance on how to improve credit scores and manage debt effectively.

Not-for-profit Organization

A not-for-profit organization is a type of organization that does not earn profits for its owners but uses the funds for its goals.

Freshmen

Students in their first year of study at a secondary or postsecondary educational institution.

Strategic Plans

Long-term organizational goals and the strategies to achieve them, typically involving an analysis of internal and external factors impacting the organization.