Expressing Financial Data as If a Business Will Continue Operating

question 98

Multiple Choice

Expressing financial data as if a business will continue operating for an indefinite period time refers to which concept?

• A) Business entity concept
• B) Going concern concept
• C) Objectivity concept
• D) Adequate disclosure concept

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Definitions:

Synapse

The junction between two neurons, facilitating the transmission of electrical or chemical signals.

Depolarizing

In biology, the reduction of the membrane potential difference in a cell, typically as part of the process of generating an action potential.

Blood-Brain Barrier

Specialized membranes that surround the blood vessels within the brain and filter harmful chemicals out of the brain’s blood supply.

Defense System

Mechanisms or strategies employed by individuals or systems to protect against threats, criticism, or psychological harm, often unconsciously in the form of psychological defenses.