Which Accounting Assumption or Principle Is Being Violated If a Company

question 120

Multiple Choice

Which accounting assumption or principle is being violated if a company provides financial reports only when it introduces a new product?

• A)Periodicity.
• B)Economic entity.
• C)Revenue recognition.
• D)Full disclosure.

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Definitions:

Overriding Climate

A dominant climate condition or change that has a significant impact on environmental and societal patterns over a wide area.

Temperature

A measure of the thermal energy of a system, reflecting how hot or cold an object is.

Precipitation

Any form of water, liquid or solid (rain, snow, sleet, hail), that falls from the atmosphere and reaches the ground.

Desert Animals

Fauna specially adapted to survive in desert climates, often featuring adaptations such as water conservation and temperature regulation.