Which of the following is an assumption made in the preparation of the financial statements?
A) Financial statements are prepared for a specific entity that is distinct from the entity's owners.
B) The current market value is assumed to be less relevant than the original cost paid.
C) The preparation of financial statements for a specific time period assumes that the balance sheet covers a designated period of time.
D) Financial statements are prepared assuming that inflation has a distinct effect on the monetary unit.
A
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Identify the most appropriate sales presentation method that can be used when time is short and the product is simple.
A. Barrier B. Stimulus response C. Memorized D. Problem-solution E. Formula selling
When using the high-low method, fixed costs are computed before the variable component is computed
Indicate whether the statement is true or false
The steps of instructions
A) use short commands to tell a person how to perform a task. B) use long sentences for clarification. C) are written in third person and can be present or past tense.
The past tense of a verb is used to show action that is happening now
Indicate whether the statement is true or false