With Respect to the Going Concern Assumption, Under Generally Accepted

question 87

Multiple Choice

With respect to the going concern assumption, under Generally Accepted Accounting Principles (GAAP) , a reasonable period of time is _______.

• A)considered to be 90 days
• B)considered to be 180 days
• C)one year from the date the client issues financial statements
• D)two years from the date the client issues financial statements

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Definitions:

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The strategies, plans, and principles that guide the United States' interactions with foreign nations and international bodies.

Earl Warren

An influential American jurist and politician who served as the 14th Chief Justice of the United States, known for landmark decisions on civil rights, including Brown v. Board of Education.

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The period of geopolitical tension between the Soviet Union and the United States and their respective allies, from the end of World War II until the dissolution of the Soviet Union in 1991.

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Memory of how to perform tasks, such as walking or riding a bicycle, often recalled without conscious awareness.