Answer the following statements true (T) or false (F)
The going-concern postulate states that unless there is evidence to the contrary, it is assumed that the firm will continue indefinitely.
ANSWER: T
You might also like to view...
Current assets are listed on the balance sheet from the most liquid to least liquid
a. True b. False Indicate whether the statement is true or false
Our preference for people and messages that confirm our existing beliefs, attitudes, or values is known as ______.
A. selective exposure B. selective perception C. selective attention D. selective retention
When duties cannot be segregated, the most important internal control procedure is
a. supervision b. independent verification c. access controls d. accounting records
Answer the following statements true (T) or false (F)
1. A company's investments in stock or bonds cannot include the acquisition of an entire company. 2. Just as individuals invest in a variety of companies' stocks and bonds, the same is true for businesses. 3. The owner of a bond or stock of a corporation is referred to as the investor. 4. A preferred stock is an example of a debt security.