6. Assumption on which financial statements are based that the business entity will continue to operate in the foreseeable future. Select one: Ca. Relevance b. Prudence concept Cc. Going concern Cd. Operational continuity 7. Which of the following measurement bases recognizes an asset at the amount of cash or cash equivalent that it could be sold for, less any cost associated with the sale. Select one: Ca. Current cost b. Net realizable value Cc. Fair value 8. Select that which applies to capital expenditure: Select one: Ca. The business will reap benefits within one period b. Intention is to restore PPE item to original condition Cc. Wages paid to staff cleaning the warehouse d. The business does not incur expenditure frequently 9. To keep their website running, Toli Online Shopping store has to pay yearly hosting fees. Which financial statement is appropriate to report hosting fees? Select one: Ca. Statement of changes in equity b. Statement of financial position c. Accounting policies and explanatory notes d. Statement of profit or loss and other comprehensive income 10. Which one of the conditions below should be met in order for an entity to recognize a delivery vehicle? Select one: a. Proof of ownership b. The probability that the business will use the vehicle for deliveries in future c. It should be parked in the company's garage d. Only the purchase price can be measured reliably Clear my choice Skip Quiz navigation 11. Which of the following assets of Epandulo Building supplies should not be classified as PPE? Select one: Ca. A trailer for hiring to other businesses b. Table and chairs in the administration office Cc. The business' registration trademark Cd. A concrete machine in the production department 12. What type of expenditure is installation cost on PPE