As Per the ________,The Entity Will Remain in Operation for the Foreseeable

question 175

Multiple Choice

As per the ________,the entity will remain in operation for the foreseeable future.

• A) economic entity concept
• B) monetary unit assumption
• C) going concern assumption
• D) cost principle

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Definitions:

Realized Gain

The profit made from the sale of an asset, recognized when the asset is actually sold and the transaction is complete.

Consolidated Financial Statements

Financial statements that present the assets, liabilities, equity, income, expenses, and cash flows of a parent company and its subsidiaries as a single economic entity.

Voting Shares

Shares of a corporation's stock that grant the shareholder the right to vote on corporate matters, such as the election of the board of directors.

Consolidated Financial Statements

Financial statements that present the assets, liabilities, equity, income, and cash flows of a parent company and its subsidiaries as one single entity.