Which of the Following Principles States That a Business Should

question 131

Multiple Choice

Which of the following principles states that a business should never anticipate gains?

• A)conservatism
• B)materiality concept
• C)disclosure principle
• D)consistency principle

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Definitions:

Price Of X

Refers to the monetary value or cost required to purchase a specific good or service denoted as "X".

Price Of Y

The cost at which a particular good, referred to as "Y" in economic models, is sold or purchased in the market.

Commodity 1

an economic term referring to a raw material or primary agricultural product that can be bought and sold, denoted here as the first in a series or category.

Commodity 2

Another generic term for any good or service, used distinctively from "Commodity X" in economic analysis.