Which Statement About the Financial Statement Assumptions Is NOT True

question 39

Multiple Choice

Which statement about the financial statement assumptions is NOT true?

• A) Assets are originally recorded at cost.
• B) Revenue is recorded when received and expenses are recorded when they are incurred.
• C) Going concern means that financial statements are prepared on the basis that the business entity will continue operation in the foreseeable future.
• D) The life of a business is divided into equal periods.

Understand the concept and factors involved in a home birth.

Differentiate between preterm and small for date babies.

Identify the effects of alcohol use during pregnancy.

Explain the biological process of human reproduction, including the role of sperm.

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Definitions:

Nike

A global brand specializing in athletic wear, known for its innovative products and marketing strategies.

Brand Name

The name given to a product or service by a company, which is designed to be easily identifiable and memorable by consumers.

Metaphorical

Pertaining to or characterized by metaphors, using one thing to represent another in order to convey meaning or make a comparison.

Fabricated

implies something that has been made or constructed, often with the intention to deceive or give a false impression.