The Accounting Concept That Indicates Assets Should Be Reported at the Price

question 155

Multiple Choice

The accounting concept that indicates assets should be reported at the price that would be received to sell an asset is the

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

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Definitions:

Masculinity

A set of attributes, behaviors, and roles associated with boys and men as influenced by culture, society, and personal choice.

Economic Achievement

The attainment of financial goals or milestones, often measured by income, wealth, or status.

Organizational Power

The capacity or ability of individuals or groups within an organization to influence others, make decisions, and control resources.

Gender-role Socialization

The process through which individuals learn the norms and behaviors considered appropriate for their gender in their culture.