Question: Antonia's Pizza is being liquidated (closed down) because it sustained losses for many years. It continue to amortize (depreciate) it assets and prepare financial statements
Antonia's Pizza is being liquidated (closed down) because it sustained losses for many years. It continue to amortize (depreciate) it assets and prepare financial statements on the cost basis. Which is violated?
Options:
Going concern assumption | |
Cost principle | |
Business entity concept | |
Matching principle |
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