The Unit of Measure Concept

question 58

Multiple Choice

The unit of measure concept

• A) is only used in the financial statements of manufacturing companies
• B) is not important when applying the cost concept
• C) requires that different units be used for assets and liabilities
• D) requires that economic data be reported in yen in Japan or dollars in the United States

---

Definitions:

Fourth Of July

A federal holiday in the United States commemorating the Declaration of Independence, celebrated with fireworks, parades, and barbecues.

Firecrackers

Small explosive devices primarily used for entertainment, especially in celebrations, producing a loud noise and visual effects upon ignition.

Conditioned Stimulus

A stimulus that was once neutral but, after pairing with the unconditioned stimulus, begins to provoke a conditioned response.

Firecrackers

Small explosive devices primarily used for entertainment purposes, especially in celebrations, that create a loud noise when detonated.