Which of the Following Concepts (Or Principles)require an Assumption That

question 11

Multiple Choice

Which of the following concepts (or principles) require an assumption that the entity will remain in operation for the foreseeable future?

• A)Cost principle
• B)Going- concern concept
• C)Profit recognition principle
• D)Entity concept

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Definitions:

Congressional Schedule

The calendar of sessions, meetings, and legislative activities of the United States Congress.

Federal Criminal Prosecutions

Legal proceedings initiated by the federal government against individuals accused of violating federal laws.

Federal Laws

Laws passed by the national government of a country that are applicable to all jurisdictions within the country.

Employment Discrimination

Unfair treatment of employees or job applicants based on race, color, religion, sex, national origin, age, disability, or genetic information.