Which of the Following Concepts (Or Principles)require an Assumption That

question 88

Multiple Choice

Which of the following concepts (or principles) require an assumption that the entity will remain in operation for the foreseeable future?

• A)Entity concept
• B)Accounting period concept
• C)Accrual basis of accounting
• D)Going concern assumption

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Definitions:

Equitable Society

A concept or vision of a society in which fairness and justice guide the distribution of opportunities, rights, and responsibilities.

Cognitive Approach

A psychological viewpoint that focuses on understanding how people process, store, and retrieve information and how this affects behavior.

Teaching Tool

Any item, strategy, or method used to convey knowledge or facilitate learning.

Appropriateness

The quality of being suitable or fitting for a specific context, circumstance, or purpose.