Which of the Following Principles States That a Business Should

question 47

Multiple Choice

Which of the following principles states that a business should not report anticipated gains?

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

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Definitions:

Cetacean Diversity

The variety of species within the cetacean order, which includes whales, dolphins, and porpoises, representing a wide range of ecological and morphological adaptations.

Diatoms

Microscopic algae with silica shells, found in freshwater and marine environments, playing a crucial role in oxygen production and aquatic food chains.

Fossil Record

The collection of all known fossils and their placement in rock formations and sedimentary layers, providing information about the history of life on Earth.

Sea Temperature

The measure of the warmth of the surface of the sea, an important parameter affecting marine life and weather patterns.