Which of the Following Concepts (Or Principles)require an Assumption That

question 103

Multiple Choice

Which of the following concepts (or principles) require an assumption that the entity will remain in operation for the foreseeable future?

• A) Entity concept
• B) Faithful representation principle
• C) Going-concern concept
• D) Cost principle

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Definitions:

Liberating Influence

A force or factor that frees individuals or groups from restrictions, enabling greater autonomy, expression, or action.

Constraining Influence

Factors or forces that limit or restrict actions, behaviors, or decisions.

Globalization

The method through which companies or different entities gain international impact or begin to function globally, resulting in a greater linkage among global economies, cultures, and communities.

Proponents

Individuals or groups who support a particular idea, policy, or project.