Which One of the Following Statements Is True

question 96

Multiple Choice

Which one of the following statements is true?

• A)Recognition is concerned with the dollar amount of each economic effect that should be reported in the financial statements.
• B)Measurement is concerned with how economic effects should be quantified.
• C)The stability concept is concerned with identification of the specific entity for which economic effects are to be recognized and measured.
• D)The monetary unit assumption is concerned with the valuation of economic effects in terms of current purchasing power.