The Assumption That the Unit of Measure Remains Relatively Constant

question 33

Multiple Choice

The assumption that the unit of measure remains relatively constant over time is part of the

• A)economic entity assumption.
• B)cost principle.
• C)historical cost principle.
• D)monetary unit assumption.

---

Definitions:

Torrens System

The Torrens system is a method of registering titles to land, named after Sir Robert Torrens, designed to simplify land transactions and provide clear ownership.

Registry System

A provincial government operated system for the registration of interests in land.

Province Guarantees

Assurances or commitments provided by a provincial government, often related to financial backing or support.

Solicitor's Customary Searches

Legal inquiries made by a solicitor to ensure there are no legal impediments to a property sale.