Which of the following terms is used when assuming a business will continue to operate in the

Question:

Which of the following terms is used when assuming a business will continue to operate in the foreseeable future?
A. Separate entity concept
B. Monetary measurement concept
C. Going concern assumption
D. Time period assumption

Fantastic news! We've Found the answer you've been seeking!

Step by Step Answer:

Related Book For book-img-for-question

Principles Of Accounting Volume 1 Financial Accounting

ISBN: 9781593995942

1st Edition

Authors: Mitchell Franklin, Patty Graybeal, Dixon Cooper, OpenStax

See More Books

Question Posted: Aug 09, 2022 11:40 PM

See More Questions

Which one of the following is not an accurate description of the Allowance for Doubtful Accounts? Multiple Choice The account is a contra account. The account is a temporary account. The amount of...
Match the correct term with its definition. A. Financial Accounting Standards Board (FASB) B. generally accepted accounting principles (GAAP) C. Securities and Exchange Commission (SEC) D. conceptual...
The following questions are adapted from a variety of sources including questions developed by the AICPA Board of Examiners and those used in the Kaplan CPA Review Course to study property, plant,...
An air-filled X-band rectangular waveguide has dimensions a = 2.286 cm and b = 1.016 cm. If the waveguide has copper walls ( = o , = o , = 5.8 x 10 7 S/m), find the attenuation in dB/m due to the...
How can one construct a characteristic line for a portfolio? What does it show?
Why is it important for the U.S. government to have resolution authority?
Consider a one-period, three-state economy with two assets traded. Asset 1 has a price of 0.9 and pays a dividend of 1 no matter what state is realized. Asset 2 has a price of 2 and pays 1, 2, and 4...
On November, 1 of the current year, Rob Elliot invested $30,500.00 of his cash to form a corporation, GGE Enterprises Inc, in exchange for shares of common stock. No other common stock was issued...
Cost of Goods Manufactured, using Variable Costing and Absorption Costing On December 31, the end of the first year of operations, Frankenreiter Inc., manufactured 4,000 units and sold 3,400 units....
Westley Fong, manager of The Lucky 88 Motel, has a contract with Appraisers Associates to appraise his 150-room motel, which is located in beautiful downtown Wahiawa. The consultant on the job has...
Assuming the following account balance changes for the period, what is the missing value? Assets Liabilities Common stock Dividends Revenue Expenses $246,300 ? 160,000 30,000 245,800 175,000
Does every transaction affect both sides of the accounting equation? Explain your answer.
Calculate the values of Hr, Sr, and Gr for the production of high-purity silicon by the reaction SiO 2 (s) + 2 C(s, graphite) Si(s) + 2 CO(g) at 25C and estimate the temperature at which the...
Leslie Sporting Goods is a locally owned store that specializes in printing team jerseys. The majority of its business comes from orders for various local teams and organizations. While Leslie's...
Euclid acquires a 7-year class asset on May 9, 2022, for $153,000 (the only asset acquired during the year). Euclid does not elect immediate expensing under 179. He does not claim any available...
Williams & Sons last year reported sales of $10 million, cost of goods sold (COGS) of $8 million, and an inventory turnover ratio of 2. The company is now adopting a new inventory system. If the new...
A ceramic manufacturer promised to deliver 25 crates of vases to a Japanese importer under a "CFR" INTERCOM agreement. During transit, however, a large number of vases were broken. The buyer wants to...
A company receives $364, of which $23 is for sales tax. The journal entry to record the sale would include a ?
Find the general solution of the following equations. dy/dx = -y + 2
Do the three planes x + 2x + x 3 = 4, X X 3 = 1, and x + 3x = 0 have at least one common point of intersection? Explain.
Markson and Sons leases a copy machine with terms that include a fixed fee each month of $500 plus a charge for each copy made. The company uses the high-low method to analyze costs. If Markson paid...
Explain how the high-low method is used for cost estimation. What, if any, are the limitations of this approach to cost estimation?
Which of the following would not be classified as manufacturing overhead? A. Indirect materials B. Indirect labor C. Direct labor D. Property taxes on factory
On consolidated financial statements, where does the parents equity in the net income of the subsidiary account appear? A. On the consolidated income statement, as a revenue B. On the consolidated...
Which of the following is not one of the elements of the balanced scorecard? a.cost system b.strategic initiatives c.performance targets d.strategy maps
Yield to Maturity and Call with Semiannual Payments Shares Remaining After Recapitalization Dye Trucking raised $75 million in new debt and used this to buy back stock. After the recap, Dye's stock...

Which of the following terms is used when assuming a business will continue to operate in the

Question:

Step by Step Answer:

Going Concern Assumption Go...View the full answer

Principles Of Accounting Volume 1 Financial Accounting

Students also viewed these Business questions