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.

---

Definitions:

Constitutional Power

The authority granted by a constitution, especially the United States Constitution, to the different branches of government or to specific governmental roles.

Executive Order

A directive issued by the president or a governor that has the force of law, often used to manage operations of the federal government.

National Emergencies

Situations declared by a government that threaten the country and its citizens, requiring immediate and often extensive response measures.

Signing Statement

A written comment issued by the President when signing a bill into law, often outlining interpretations or concerns.