At Least Once a Year,review the Orientation Program to Determine

question 13

Multiple Choice

At least once a year,review the orientation program to determine if it is _____ and to identify future improvements.

• A) interesting to participants
• B) cost effective
• C) in compliance with state laws
• D) meeting its objectives

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Definitions:

Economic Entity Assumption

An accounting principle that assumes a company and its owners are separate entities for recording and reporting financial transactions.

Basic Assumption

Fundamental principles underlying the preparation of financial statements, typically including economic entity, going concern, monetary unit, and periodic reporting.

Corporate Form

The structure of a corporation, recognized by law as a single entity separate from its owners, with its own rights, privileges, and liabilities.

Economic Entity Assumption

This accounting principle assumes that a company's financial activities are distinct from those of its owners or other businesses.