The Accounting Principle That Requires Financial Statements to Reflect the Assumption

question 165

Multiple Choice

The accounting principle that requires financial statements to reflect the assumption that the business will continue operating instead of being closed or sold, unless evidenceshows that it will not continue, is the:

• A)Revenue recognition principle.
• B)Cost principle.
• C)Going concern principle.
• D)Monetary unit principle.
• E)Business entity principle.

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Definitions:

Null Hypothesis

A statement positing that there is no effect or no difference, and any observed deviation from this is due to chance alone.

Symbol Represents

In various contexts, a symbol represents a character or graphic sign that stands for an object, concept, or quantity, used for concise communication in mathematics, sciences, and more.

Research Hypothesis

A precise, verifiable forecast regarding the anticipated outcomes in your research.

Sampling Error

The error that arises from estimating a population parameter based on a sample rather than the entire population.