Which Accounting Assumption Requires That Only Those Things That Can

question 115

Multiple Choice

Which accounting assumption requires that only those things that can be expressed in dollar values are included in the accounting records?

• A)monetary unit assumption.
• B)historical cost principle.
• C)periodicity assumption.
• D)full disclosure principle.

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Definitions:

OD Philosophy

Refers to the principles and beliefs underlying Organizational Development, focusing on improving organizations through change in strategies, structures, and processes.

Willingness To Experiment

An attitude or approach characterized by the open-mindedness to try new ideas, methods, or activities.

Private Examination

A confidential assessment or investigation conducted outside of public view or awareness.

Crisis Change

Significant alterations to normal functions or processes prompted by emergency or critical situations.