All of the following items are classified as accounting assumptions and conventions except for
A)going concern
B)timeliness
C)monetary unit
D)entity

Name: All of the following items are classified as accounting assumptions and conventions except for A)going concern B)timeliness C)monetary unit D)entity
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Question

Quizplus · Accepted Answer

Timeliness is not a commonly recognized accounting assumption or convention. The four main accounting assumptions and conventions are going concern, monetary unit, entity, and periodicity.

All of the Following Items Are Classified as Accounting Assumptions