For Each Statement Provided, Choose the Letter of the Appropriate

question 50

Multiple Choice

For each statement provided, choose the letter of the appropriate term from the list that each statement best describes.Some terms may be used more than once, while others are not used at all.
-The assumption that an entity is not in the process of liquidation and that it will continue indefinitely.

• A)Capital stock
• B)Asset
• C)Owners' equity
• D)Time period
• E)Dividends
• F)Economic entity concept
• G)Expense
• H)Retained earnings
• I)Cost principle
• J)Creditor
• K)Liability
• L)Revenue
• M)Going concern
• N)Monetary unit
• O)Corporation

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Definitions:

Recurrence Intervals

The average time between events such as earthquakes, floods, or volcanic eruptions, used in risk assessment and planning.

Prehistoric Earthquakes

Earthquakes that occurred before historical records were kept, studied primarily through geologic evidence.

Seismic Events

Phenomena that are caused by the sudden release of energy in the Earth's crust, resulting in ground shaking and sometimes displacement.

Seismographs

Instruments that measure and record details of earthquakes, such as force and duration, by detecting ground motion.