The Assumption That in the Absence of Contrary Information a Business

question 122

Multiple Choice

The assumption that in the absence of contrary information a business entity will continue indefinitely is the:

• A) Periodicity assumption.
• B) Entity assumption.
• C) Going concern assumption.
• D) Historical cost assumption.

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Definitions:

Personality

The combination of characteristics or qualities, including patterns of thought, feelings, and behaviors that make a person unique.

Reactive Autonomic Nervous System

Refers to the part of the autonomic nervous system that responds involuntarily to stress, causing physical reactions.

Emotional Stability

A personality trait that reflects the extent to which a person's mood and emotions are consistent and not prone to frequent fluctuations.

Self-esteem

A person's internal judgment of their own significance or merit.