Accountants Who Ignore the Effect of Inflation on Prices May

question 45

Multiple Choice

Accountants who ignore the effect of inflation on prices may be violating which accounting principle?

• A)Going concern
• B)Business entity
• C)Reliability
• D)Something other than what is listed

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Definitions:

Nixon

Nixon refers to Richard Nixon, the 37th President of the United States, known for his foreign policy achievements and the Watergate scandal which led to his resignation.

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