Which Accounting Assumption Requires an Accountant to Be Able to Clearly

question 10

Multiple Choice

Which accounting assumption requires an accountant to be able to clearly identify the transactions to be recorded, classified and summarised into an entity's financial statements?

• A) accrual basis assumption.
• B) going concern assumption.
• C) accounting equation assumption.
• D) accounting entity assumption.

---

Definitions:

Fecal Impaction

A medical condition where hardened stool becomes stuck in the colon or rectum, leading to difficulty and discomfort in passing bowel movements.

Liquid Fecal Seepage

The involuntary leakage of liquid fecal matter, often associated with conditions affecting the lower gastrointestinal tract.

Anal Sphincter Muscles

A group of muscles surrounding the anus that control the passage of feces, maintaining continence.