The valuation of a promise to receive cash i the future at present value on the financial statemetns of a company is valid because of the accounting concept of: A. Entity B. Materiality C. Going concern D. Neutrality I think it is C Going Concern because it has to do with cash flow in a future period. Thanks.
The valuation of a promise to receive cash i the future at present value on the financial statemetns of a company is valid because of the accounting concept of: A. Entity B. Materiality C. Going concern D. Neutrality I think it is C Going Concern because it has to do with cash flow in a future period. Thanks.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Transcribed Image Text:The valuation of a promise to receive cash i the future at present value on the financial statemetns of a
company is valid because of the accounting concept of: A. Entity B. Materiality C. Going concern D.
Neutrality I think it is C Going Concern because it has to do with cash flow in a future period. Thanks.
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