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Which Concept Is the Reason the Dollar Is Used in the Preparation

question 78

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Which concept is the reason the dollar is used in the preparation of financial statements?


Definitions:

Discontinued Operations

The disposal of a significant component of a business.

Generally Accepted Accounting Principles

A set of accounting standards and procedures used in the United States to govern financial reporting and ensure consistency across organizations.

Quality Of Earnings

An assessment of the degree to which a company's earnings are considered reliable or sustainable, and free from artificial inflation or deflation.

Profitability Ratios

Measures of the income or operating success of a company for a given period of time.

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