A Company Has a Factory Building That Originally Cost the Company

question 100

Multiple Choice

A company has a factory building that originally cost the company $250,000. The current fair value of the factory building is $3 million. The president would like to report the difference as a gain. The write-up would represent a violation of which accounting assumption or principle?

• A) Revenue recognition.
• B) Going concern.
• C) Historical cost.
• D) Monetary unit.

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Definitions:

Spinal Cord Injury

Damage to the spinal cord that results in a loss of function such as mobility or sensation below the site of the injury.

Nursing Diagnosis

A professional evaluation concerning the experiences or responses of a person, family, or community to existing or potential health challenges or life situations.

Protective Reflexes

Bodily mechanisms triggered to shield organs from sudden or dangerous stimuli.

Preoperative Teaching

Education provided to patients about the surgical procedure, expectations, and postoperative care before undergoing surgery.