The Assumption That Enables Accounting to Quantify (Measure) Economic Events

question 202

Multiple Choice

The assumption that enables accounting to quantify (measure) economic events is the

• A) economic entity assumption.
• B) cost principle.
• C) historical cost principle.
• D) monetary unit assumption.

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Definitions:

Unconscious Person

An individual who is not awake and unable to respond to stimuli, often due to illness, injury, or intoxication.

Narcotic Abuse

The misuse of narcotic drugs, which are substances affecting mood or behavior, for non-medical reasons, leading to addiction and various negative health effects.

Inpatient Substance Abuse

Treatment programs where individuals with drug or alcohol dependencies live at a facility to receive intensive rehab services.

Enabling Behaviors

Actions that protect individuals from the consequences of their behavior, often contributing to the continuation of negative behaviors such as addiction or incompetence.