Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. the monetary unit assumption: multiple choice mean

The monetary unit assumption: Multiple Choice Means that accounting information presumes that the business will...

90.2K

Verified Solution

Question

Accounting

The monetary unit assumption:
Multiple Choice
Means that accounting information presumes that the business will continue operating instead of being closed or sold.
Means that transactions and events are expressed in monetary, or money, units.
Presumes that the life of a company can be divided into time periods, such as months and years, and that useful reports can be prepared for those periods.
Means that a business is accounted for separately from other business entities, including its owner.
Prescribes that a company record the expenses it incurred to generate the revenue reported.
image

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Q

4 When an a particle collides with a stationary lithium nucleus the following nuclear reaction...

Physics
Q

Gleason & Co. is a mid-sized construction company located in London, Ontario. Four weeks ago, the...

Operations Management
Q

Using a real world example, state the domain and range of the function or relationship. What...

Advance Math
Q

Sketch a graph of f x 5 4 3 2 1 Clear All Draw 5...

Geometry
Q

A bar graph shows that sports books received 9 votes. If the scale is 0...

Basic Math
Q

Find the partial derivatives of the function This material is review and a warm up...

Calculus
Q

to demonstrate the differnce between cash account activity and accural basis profits (net income), note...

Accounting
Q

PROJECT OVERVIEW First, save this file as Process Costing_namelD#_name ID# (fill in name and ID#...

Accounting
Q

The National investment Authority has announced an investment project for the generation and distribution of...

Accounting
Q

Carlson's general business credit for the current year is $84,000. His net income tax is...

Accounting
Q

On January 1, 2019, Howard Company purchased inventory costing $85,000 by signing a 6% nine-month,...

Accounting
Q

On January 1, 2020, Holland Corporation paid $7 per share to a group of Zeeland...

Accounting