Which of the Following States That a Company Must Perform

question 60

Multiple Choice

Which of the following states that a company must perform strictly proper accounting ONLY for items that are significant to the company's financial statements?

• A)Comparability principle
• B)Relevance principle
• C)Accounting conservatism
• D)Materiality concept

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Definitions:

Control Unit

The part of a computer's central processing unit (CPU) that directs the operation of the processor.

Binary Code

A system of representing text or computer processor instructions using the binary number system's 0 and 1.

File Sizes

The measure of the amount of data a file contains, usually quantified in bytes (KB, MB, GB, etc.).

Dynamic RAM (DRAM)

A type of random access memory that stores each bit of data in a separate capacitor within an integrated circuit, requiring regular refreshing.