Which Accounting Assumption Assumes That an Enterprise Will Continue in Operation

question 103

Multiple Choice

Which accounting assumption assumes that an enterprise will continue in operation long enough to carry out its existing objectives and commitments?

• A) Monetary unit assumption.
• B) Economic entity assumption.
• C) Periodicity assumption.
• D) Going concern assumption.

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Definitions:

Concern With Aging

The anxiety or worry that arises as one gets older, often related to changes in appearance, health, and functionality.

Identity Certainty

The degree of confidence and clarity an individual has about their own identity, values, and role in society.

Big Five Model

A widely accepted personality framework that describes human personality through five broad dimensions: openness, conscientiousness, extraversion, agreeableness, and neuroticism.

Conscientiousness

A personality trait characterized by organization, dependability, diligence, and a strong sense of duty.