Which of the Following Is an Implication of the Going

question 155

Multiple Choice

Which of the following is an implication of the going concern assumption?

• A) The historical cost principle is credible.
• B) Depreciation and amortization policies are justifiable and appropriate.
• C) The current-noncurrent classification of assets and liabilities is justifiable and significant.
• D) All of these.

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Definitions:

Natural Resources

Materials or substances such as minerals, forests, water, and fertile land that occur in nature and can be used for economic gain.

Ecological Footprints

A measure of the impact human activities have on the environment in terms of the amount of greenhouse gases produced, measured in units of carbon dioxide.

Population Growth

The increase in the number of individuals in a population over a specific period.

Summary

A concise presentation of the main points of a text, document, or presentation.