The Accounting Principle That Requires Accounting Information to Be Based

question 249

Multiple Choice

The accounting principle that requires accounting information to be based on actual cost and requires assets and services to be recorded initially at the cash or cash-equivalent amount given in exchange, is the:

• A) Going-concern assumption.
• B) Measurement (Cost) principle.
• C) Business entity assumption.
• D) Accounting equation.
• E) Realization principle.

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Definitions:

Operant Conditioning

A teaching technique that involves changing the power of a behavior by either reinforcing or disciplining.

Shaping

A method of teaching new behaviors by reinforcing successive approximations towards the desired behavior.

Likelihood

The probability or chance that a given event will occur.

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Toys are objects designed for play, often used by children and pets to provide entertainment, stimulation, and aids in learning and development.