The Basic Assumptions of Accounting Used by the International Accounting

question 31

Multiple Choice

The basic assumptions of accounting used by the International Accounting Standards Board (IASB) include all of the following except:

• A) Going concern.
• B) Periodicity.
• C) Accrual basis.
• D) Materiality.

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Definitions:

Individual Practitioner

A professional who practices their skill or profession independently, often providing services to clients or patients.

Mezzo-Level

Mezzo-level refers to an intermediate scope or scale, particularly in social work, focusing on small communities, groups, or organizations rather than individuals or larger societal structures.

Social Work Practice

A professional field that focuses on helping individuals, families, groups, and communities to enhance their collective well-being and social functioning.

Procedural Justice

The concept of fairness in the processes that resolve disputes and allocate resources, focusing on the transparency and neutrality of the processes involved.