The assumption that an entity will continue to operate for the foreseeable future is called: A. accrual
Question:
The assumption that an entity will continue to operate for the foreseeable future is called:
A. accrual basis.
B. comparability.
C. going concern.
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 0% (1 review)
The answer is C Going Concern The going concern principle is a fundamenta...View the full answer
Answered By
Asim farooq
I have done MS finance and expertise in the field of Accounting, finance, cost accounting, security analysis and portfolio management and management, MS office is at my fingertips, I want my client to take advantage of my practical knowledge. I have been mentoring my client on a freelancer website from last two years, Currently I am working in Telecom company as a financial analyst and before that working as an accountant with Pepsi for one year. I also join a nonprofit organization as a finance assistant to my job duties are making payment to client after tax calculation, I have started my professional career from teaching I was teaching to a master's level student for two years in the evening.
My Expert Service
Financial accounting, Financial management, Cost accounting, Human resource management, Business communication and report writing. Financial accounting : • Journal entries • Financial statements including balance sheet, Profit & Loss account, Cash flow statement • Adjustment entries • Ratio analysis • Accounting concepts • Single entry accounting • Double entry accounting • Bills of exchange • Bank reconciliation statements Cost accounting : • Budgeting • Job order costing • Process costing • Cost of goods sold Financial management : • Capital budgeting • Net Present Value (NPV) • Internal Rate of Return (IRR) • Payback period • Discounted cash flows • Financial analysis • Capital assets pricing model • Simple interest, Compound interest & annuities
4.40+
65+ Reviews
86+ Question Solved
Related Book For
International Financial Statement Analysis CFA Institute Investment Series
ISBN: 9780470287668
1st Edition
Authors: Thomas R. Robinson, Hennie Van Greuning CFA, Elaine Henry, Michael A. Broihahn, Sir David Tweedie
Question Posted:
Students also viewed these Business questions
-
The accrual basis of accounting implicitly assumes that the firm will continue to operate well into the future such that the result of incomplete transactions will be completed or concluded. This...
-
The following characteristics, assumptions, principles, or constraint guide the FASB when it creates accounting standards. Relevance ............. Expense recognition principle Faithful...
-
In September 2008, XL Leisure Group, Britain's third-largest tour operator, filed for bankruptcy. A few months prior to filing for bankruptcy, the company had issued its audited financial statements....
-
E-max sold Dishwashers on credit, worth OMR 55,000 to customers, out of these Dishwashers customers return damaged Dishwashers for OMR 6,000. Record the entry for the Dishwashers returned? a. Debit...
-
Why Study Information Security? Why do you think the TCP/IP (Internet) model is more widely used than the OSI model? Discuss two drawbacks of IPv4 and how IPv6 addresses those drawbacks. Describe...
-
Find the differential of the function. y = 1 + 2u/1 + 3u
-
Discuss why only relevant costs need to be considered in a short-term decision.
-
Refer to the information regarding Danas Ribbon World in E6-10. Variable cost per rosette ...... $ 1.60 Sales price per rosette ...... 3.00 Total fixed costs per month ....889.00 Required: 1. Suppose...
-
work umber of a certain type o ent after 4 days.
-
The assumption that the effects of transactions and other events are recognized when they occur, not when the cash flows occur, is called: A. relevance. B. accrual basis. C. going concern.
-
Which of the following is not a constraint on the financial statements according to the Conceptual Framework ( 2010 )? A. Understandability. B. Benefit versus cost. C. Balancing of qualitative...
-
Which of the following best describes internal audit workpapers for consulting engagements? a. Workpapers are not required for consulting engagements. b. Workpaper requirements for consulting...
-
The following data are the scores for 22 students on an algebra test. 79 75 66 38 67 60 33 79 62 0 95 43 38 67 57 55 33 80 77 68 73 82 63 Send data to calculator D Construct a box-and-whisker plot...
-
The function f(x) = (3) demonstrates
-
K 1/3 The function f(x)=24x models the number of plant species, f(x), on an island in terms of the area, x, in square miles. What is the area of an island that has 120 species of plants? square miles
-
Calculate and Complete the followng DCF Model WACC Calculation Asset beta 0.82 Risk-free rate 4.86% Market Risk Premium 5.00% Cost of debt 6.00% Target Debt Ratio 27% Target Equity Ratio 73% Debt to...
-
Sadie White receives an hourly rate of $30, with time and a half for all hours worked in excess of 40 during a week. Payroll data for the current week are as follows: hours worked, 47; federal income...
-
L. Waddell, V. Slye, and E. Rothe are partners with capital balances of $89,000, $82,000, and $68,000, respectively. Rothe sells his interest in the company for $90,000 to P. Skou. Waddell and Slye...
-
Provide examples of a situations in which environmental disruptions affected consumer attitudes and buying behaviors.
-
Read the article, Twitter as a Communication Tool for Nonprofits: A Study of Sport-for-Development Organizations, by Svensson, Mahoney, and Hambrick. How did the authors suggest that nonprofit...
-
Read Nonprofit Collaboration with Luxury Brands: Positive and Negative Effects for Cause-Related Marketing written by Boenigk and Schuchardt. Did the authors find the use of luxury brand partners to...
-
Read Nonprofit Collaboration with Luxury Brands: Positive and Negative Effects for Cause-Related Marketing written by Boenigk and Schuchardt. (See Articles.) What precautions did the authors...
-
Way Cool produces two different models of air conditioners. The company produces the mechanical systems in its components department. The mechanical systems are combined with the housing assembly in...
-
Hatch Manufacturing produces multiple machine parts. The theoretical cycle time for one of its products is 30 minutes per unit. The budgeted conversion costs for the manufacturing cell dedicated to...
-
The objective of the Additional Refundable Tax on Investment Income is to discourage the use of a Canadian controlled private corporation to defer taxes on investment income. . True False
Study smarter with the SolutionInn App