The Assumption That the Assets and Liabilities of the Business

question 157

Multiple Choice

The assumption that the assets and liabilities of the business are accounted for on the books of the company but not included in the records of the owner is the:

• A) Monetary unit assumption.
• B) Going concern assumption.
• C) Economic entity assumption.
• D) Periodicity assumption.

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Definitions:

Investing Activities

Transactions involving the acquisition or disposal of non-current assets or other investments not included in cash equivalents.

Contributed Capital

The total value of money or assets that shareholders have directly invested in a company.