Which Basic Assumption Is Illustrated When a Firm Reports Financial

question 24

Multiple Choice

Which basic assumption is illustrated when a firm reports financial results on an annual basis?

• A) Economic entity assumption.
• B) Going concern assumption.
• C) Periodicity assumption.
• D) Monetary unit assumption.

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Definitions:

Different Races

The classification of humans into groups based on physical traits, ancestry, genetics, or social relations.

Violence on TV

The portrayal of violent acts and behaviors on television, which has been a concern for its potential impact on viewers, especially children.

Violent Video Games

Video games that feature scenes of violence, which can include physical fights, use of weapons, or other aggressive behaviors.

Increase Aggression

To heighten or amplify hostile or violent behaviors towards others.