Which Accounting Assumption or Principle Requires That Only Those Things

question 104

Multiple Choice

Which accounting assumption or principle requires that only those things that can be expressed in dollar values are included in the accounting records?

• A)monetary unit assumption.
• B)historical cost principle.
• C)periodicity assumption.
• D)full disclosure principle.

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Definitions:

Counseling Notes

Written records kept by counselors or therapists that detail the discussions and progress of sessions with clients.

Formal Appraisals

Structured assessments where employee performance is evaluated and documented on a regular basis, typically annually.

Employment Interview

A formal meeting between a job applicant and an employer to assess the applicant's qualifications for a position.

Employee Warnings

Official notices issued to employees to address violations or misconduct, often as part of a disciplinary process.