Which of the Following Is an Implication of the Going

question 24

Multiple Choice

Which of the following is an implication of the going concern assumption?

• A)The historical cost principle is credible.
• B)Depreciation and amortization policies are justifiable and appropriate.
• C)The current-noncurrent classification of assets and liabilities is justifiable and signify-cant.
• D)All of these.

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Definitions:

Motivated Forgetting

A theoretical process in which individuals may unconsciously block memories of traumatizing or negative experiences.

Misinformation Effect

The phenomenon that occurs when a person's recall of episodic memories becomes less accurate because of post-event information.

Spacing Effect

The phenomenon that information is better retained when study sessions are spaced out over time rather than crammed in a short period.

Source Amnesia

A memory disorder where an individual can remember certain information but is unable to recall how, when, or where they learned it.