The Unit of Measure Assumption States That

question 72

Multiple Choice

The unit of measure assumption states that:

• A)results of business activities should be reported in an appropriate monetary unit.
• B)assets should be recorded at cost.
• C)a business's financial reports include only the activities of the business.
• D)assets equal liabilities plus stockholder's equity.

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Definitions:

Seriations

The cognitive ability to arrange objects in an ordered series, typically by size, which is a key component of logical thinking in children's development.

Heuristics

Problem-solving strategies that use a practical approach or shortcuts to produce solutions that are not perfect but sufficient for the immediate goals.

Transductive Reasoning

A type of thinking commonly seen in early childhood where the child makes connections between unrelated events.

Cause-Effect Relationships

The principle of causality that establishes the relationship between something that happens (the cause) and the thing that happens as a result (the effect).