Which of the Following Is an Essential Characteristic of the Traditional

question 15

Multiple Choice

Which of the following is an essential characteristic of the traditional accounting model?

• A) Going concern assumption
• B) Cost principle
• C) Entity concept
• D) All of these are essential characteristics

---

Definitions:

Unpaid Leave

A period of time that an employee is allowed to be away from work without pay, often for personal, family, or medical reasons.

Employee Benefit

Compensation provided to employees in addition to their normal wages or salaries, such as health insurance, retirement plans, paid vacation, and life insurance.

Seniority

The concept of giving preference to employees with longer tenure in terms of promotions, pay raises, and other employment decisions.

Employee Wellness Program

A company initiative aimed at improving the health and well-being of its employees through various means such as exercise, stress management, and health education.