0%

The time period assumption implies that?

Correct! Wrong!

The Economic Entity Assumption requires that?

Correct! Wrong!

Which assumption justifies why a company's long-term assets are depreciated over their useful life rather than reported at liquidation value?

Correct! Wrong!

If a company prepares financial reports every quarter, this is an example of the?

Correct! Wrong!

Under the Monetary Unit Assumption, which of the following is correct?

Correct! Wrong!

Assumption of GAAP MCQs
Excellent ***
Very Good **
Good *
Need Improvements

Share your Results: