The Principle Prescribing That Financial Statements Reflect the Assumption That

question 108

Multiple Choice

The principle prescribing that financial statements reflect the assumption that the business will continue operating instead of being closed or sold,unless evidence shows that it will not continue is the:

• A)Going-concern principle
• B)Business entity principle
• C)Objectivity principle
• D)Cost Principle
• E)Monetary unit principle

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Definitions:

"Me Too" Republicanism

Is a political stance where Republicans adopt policies or positions similar to those of their opponents rather than promoting traditional conservative values.

New Deal

A series of programs, public work projects, financial reforms, and regulations enacted by President Franklin D. Roosevelt in the United States between 1933 and 1939, designed to respond to the Great Depression.

Social Security

A government program that provides financial assistance to people with an inadequate or no income, primarily the elderly, disabled, and families with dependent children.

New Deal Coalition

An alliance of diverse voter groups in the United States that supported the Democratic Party because of Franklin D. Roosevelt's New Deal policies in the 1930s and 1940s.