According to Generally Accepted Accounting Principles (GAAP), to Meet the "Going-Concern

question 5

Multiple Choice

According to Generally Accepted Accounting Principles (GAAP) , to meet the "going-concern" standard an entity must be viewed as capable of staying in business for ____________ after the date of the financial statements.

• A)a reasonable period of time
• B)six months
• C)nine months
• D)two years

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Definitions:

Behaviors

Behaviors entail the range of actions and mannerisms made by individuals in conjunction with themselves or their environment, which can be observable or interpreted.

Multidimensional Beings

refers to entities that exist or operate beyond the physical dimension, encompassing spiritual, mental, and emotional aspects.

Unique Characteristics

Distinctive attributes or features that set an individual or thing apart from others.

Humans in Relationship

Examines the dynamics, interactions, and growth that occur between individuals in various types of relationships.