Innova Corp

question 35

Multiple Choice

Innova Corp. ,a computer hardware firm,is subdivided by its different lines (such as laptops,desktops,mobile devices,printers,and servers) .Innova is departmentalized by _____.

• A)process
• B)function
• C)product
• D)customer

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Definitions:

Going Concern

An accounting principle that assumes a company will continue in operational existence for the foreseeable future, without the intention or necessity of liquidation.

Comparability

The ability to compare financial information across different entities or time periods to understand economic similarities and differences.

Faithful Representation

A fundamental qualitative characteristic in financial reporting, ensuring that financial statements are complete, neutral, and free from material error.

Relevant

Pertaining to something that is closely connected or appropriate to the matter at hand, especially in terms of information.