The Monetary Assumption

question 178

Multiple Choice

The monetary assumption:

• A) Means that accounting information reflects a presumption that the business will continue operating instead of being closed or sold.
• B) Presumes that the life of a company can be divided into time periods, such as months and years, and that useful reports can be prepared for those periods.
• C) Means that we can express transactions and events in monetary, or money, units.
• D) Prescribes that a company record the expenses it incurred to generate the revenue reported.
• E) Means that a business is accounted for separately from other business entities, including its owner.

Grasp the factors influencing the addictive potential of a drug.

Recognize the impact of drugs on brain structure and function.

Acknowledge historical trends in illicit drug use.

Understand the treatment and symptoms of drug abuse.

---

Definitions:

Sarbanes-Oxley Act

A U.S. law enacted in 2002 to protect investors by improving the accuracy and reliability of corporate disclosures.

Public Exchanges

Marketplaces for buying and selling securities, such as stocks and bonds, that are open to the public.

Money Orders

Financial instruments issued for a specific amount of money, acting as a safe alternative to cash or personal checks.

Cash

Money in the form of currency that can include coins, currency notes, and sight deposits at financial institutions.