Which accounting assumption assumes that an enterprise will continue in operation long enough to carry out its

Fantastic news! We've Found the answer you've been seeking!

Question:

Which accounting assumption assumes that an enterprise will continue in operation long enough to carry out its existing objectives and commitments?

a. Monetary unit assumption

b. Economic entity assumption

c. Time period assumption

d. Going concern assumption

e. None of the options listed

Related Book For answer-question

Intermediate Accounting

ISBN: 978-0324300987

10th Edition

Authors: Loren A Nikolai, D. Bazley and Jefferson P. Jones

See More Books

Posted Date: Nov 01, 2022 12:49 AM

See More Questions

Explain how the structure of haemoglobin enables it to carry out its functions.
An accounting time period that is one year in length is called: a. a fiscal year. b. an interim period. c. the time period assumption. d. a reporting period.
An entity is converting its accrual-based accounting records to a cash basis. The amount of $53 000 (including $7000 depreciation) was shown as 'Other expenses' in the income statement. On inspection...
We often speak of how price rations goods. What are other rationing measures in clinics in which free care is provided?
Given the complexities and risks involved with supply chains, might it make sense for a business organization to vertically integrate and be its own supply chain?
A. Whats your reaction to Indra Nooyis mothers friends congratulating her mother rather than her? How did this inspire Nooyi? B. What was unique about Nooyis thank-you messages? What are several...
A U.S. Treasury bond pays a 7% coupon on January 7 and July 7. How much interest accrues per $$100$ of principal to the bond holder between July 7, 2013, and August 9, 2013? How would your answer...
Green Day Corporation has outstanding 400,000 shares of $10 par value common stock. The corporation declares a 5% stock dividend when the fair value of the stock is $65 per share. Prepare the journal...
What is the output of this code? x=3 num = 17 print(num %x)
At the end of a recent year, The Gap, Inc., reported total assets of $13,679 million, current assets of $4,516 million, total liabilities of $10,363 million, current liabilities of $3,209 million,...
During 2021, Tolliver Company borrowed $60,000, giving a 120 day, 5% note from NRB Bank on June 8th. Record the journal entries of issue date and payment date
We have discussed a lot of different communication issues and techniques this semester. Identify one thing you have learned related to your interpersonal communication and one thing you have learned...
When it comes to providing equal employment and a safe workplace; there are several laws in place to ensure this; Discuss the following with examples. 1. How can HR ensure that there is is equal...
Answer the questions with explanations Question 1 If you wanted to appeal your grade in a course you are taking this semester, you'd find yourself in conflict with the instructor. Explain which...
The talent management process is the procedure of guiding the employee journey. This starts with how employees are attracted to the organisation and continue as they move through it when working...
Dentone Manufacturing proactively plans the human resource needs for the organization. You have recently been recruited to the position of HR Planner. One of your first tasks is to recommend options...
You make $142,500/year. You budget $3,400 for gasoline annually, half of which is tax. What percentage sales tax do you pay? (Round your answer to 2 decimal places.) Gasoline sales tax %
What is a lobbyist in US? How did this term emerge?
Refer to the financial statements and related notes of the Coca-Cola Company in Appendix A of this book. Required 1. Which depreciation method does the company use? Why do you think the company...
In 2007, Lalli Corporation incurred R&D costs as follows: Materials and equipment ... $100,000 Personnel .......... 100,000 Indirect costs ......... 50,000 $250,000 These costs relate to a product...
At the beginning of 2008 the Flynne Company decided to change from the LIFO to the FIFO inventory cost flow assumption. The following data are available: The tax rate is 30%. The company has a simple...
A beam problem under the pure bending moment is solved using five rectangular finite elements, as shown in the figure. Assume $E=200 \mathrm{GPa}$ and $v=0.3$ are used. The thickness of the beam...
A study of 16,405 adult daughters of women who immigrated to California from other countries measured the economic status of the daughters by the median household income Y for the ZIP code they lived...
Explain why you either agree or disagree with this interpretation of the results from estimating a regression model: This study concludes that the data are statistically substantial because there are...

Which accounting assumption assumes that an enterprise will continue in operation long enough to carry out its

Question:

Expert Answer:

2... View the full answer

Intermediate Accounting

Students also viewed these accounting questions