As per the ________, the entity will remain in operation for the foreseeable future.
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As per the ________, the entity will remain in operation for the foreseeable future.
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- According to the acquired assets should be recorded at the amount actually paid rather than at the estimated market value. O A. monetary unit assumption O B. going concern assumption O C. cost principle D. economic entity conceptIdentity the economic resource that has the ability to give economic benefits___________ a. Capital b. Liability c. Expense d. Asset_______Accounting concept is in valuation of fixed assets? A. Historical cost concept B. Dual aspect concept C. Entity concept D. Realisation
- Which of the following elements represents an economic resource? B . Liability.According to historical cost principle, the assets and liabilities should be reported (tick whichever apply)? a.At their market value b.At their cost of acquisition c.At their replacement value d.All of the aboveThe company future economic benefit is as....... Select one: a. Revenue b. Expenses C. Assets d. Liabilities
- Which of the following facilitates the comparison of financial performance with one period to another period is possible ? O a. Historical cost concept O b. Going concern Assumption O c. Matching Concept O d. Consistency PrincipleDefine Return on assets.Which of the following facilitates the comparison of financial performance with one period to another period is possible ? a. Consistency Principle b. Historical cost concept c. Matching Concept d. Going concern Assumption