The Assumption That the Unit of Measure Remains Sufficiently Constant

question 238

Multiple Choice

The assumption that the unit of measure remains sufficiently constant over time is part of the

• A) economic entity assumption.
• B) cost principle.
• C) historical cost principle.
• D) monetary unit assumption.

Comprehend the function and benefits of security technologies including LoJack and TPM.

Distinguish between various security threats and appropriate countermeasures.

Differentiate between security technologies designed for physical versus digital threats.

Understand the protocols for secure access and data destruction.

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Definitions:

Liability Account

An accounting record that tracks the money owed by a business to creditors, lenders, and suppliers, part of the company's liabilities.

Direct Write-Off Method

This accounting practice writes off bad debts directly against income at the time they are determined to be uncollectible, bypassing any allowance account.

Allowance for Doubtful Accounts

This is an estimation of the amount of receivables that a company does not expect to actually collect, reflecting potential losses due to customers' inability to pay.

Uncollectible

Uncollectible refers to debts or receivables that are deemed to be impossible to collect, often resulting in a write-off by the business.