A Basic Assumption of Accounting Assumes That the Dollar Is

question 62

Multiple Choice

A basic assumption of accounting assumes that the dollar is

• A) unrelated to business transactions.
• B) a poor measure of economic activities.
• C) the common unit of measure for all business transactions.
• D) useless in measuring an economic event.

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Definitions:

Sensory Receptors

Specialized cells or nerve endings that respond to changes in the environment by converting them into electrical signals for the nervous system.

Muscles

Tissue in the body that contracts to create movement or force.

Position

A specific location or arrangement in space that an object or entity occupies at any given time.

Location

The specific place or position where something exists or is situated.