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:

Nonparametric Counterpart

A type of statistical method that does not assume a specific distribution for the data, often used when the data doesn't meet the assumptions of parametric tests.

Matched Pairs

A study design in which subjects are paired based on certain characteristics, with one subject in each pair receiving each treatment.

Wilcoxon Signed Rank Test

A statistical hypothesis test that doesn't rely on parameter-based assumptions, designed to evaluate whether there's a difference in the population mean ranks of two related samples, matched samples, or repeated measurements on the same sample.

Wilcoxon Signed Rank Test

A statistical analysis method void of parametric requirements, designed to assess whether two associated samples, matched pairs, or recurrent measurements on an individual sample exhibit differences in their mean rank in the population.