A Company Prepares Financial Statements Once Every Year

question 54

Multiple Choice

A company prepares financial statements once every year. What practice does this assumption illustrate?

• A)Going concern assumption
• B)Fiscal period assumption
• C)The five-year moving theory
• D)Stable dollar assumption

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Definitions:

Intracellular

Intracellular refers to something existing or occurring within a cell or cells, highlighting processes or components located inside the cell membrane.

Extracellular

Located or occurring outside the cells of an organism.

Nasogastric Tube

A tube that is inserted through the nose into the stomach for feeding or medication administration.

Arterial Blood Gas

A test measuring the amounts of oxygen and carbon dioxide in the blood from an artery, used to assess lung function and blood gas exchange.