Provide the Definition of Each of the Following Accounting Assumptions

question 12

Essay

Provide the definition of each of the following accounting assumptions.
$$\begin{array} { | l | l | } \hline \text { Assumption } & \text { Definition } \\\hline \text { Monetary Unit } & \\\hline \text { Economic Entity } & \\\hline\end{array}$$

---

Definitions:

Stocks

Shares of ownership in a corporation, giving holders a claim on the company's earnings and assets.

Portfolio

An assortment of financial assets including stocks, bonds, commodities, currency, and equivalents, along with closed-end funds and exchange-traded funds (ETFs).

Securities

Financial vehicles that embody a part-ownership in a corporation traded on the stock market, a credit relationship with governmental organizations or companies (bonds), or the potential ownership conferred by holding options.

Treasury Bills

Short-term government securities issued at a discount from the face value and maturing at par, offering a return to investors.