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This Concept, Which Holds That a Company Should Record the Amounts

Question 90

Multiple Choice

This concept, which holds that a company should record the amounts associated with its business transactions in monetary terms, assumes that the value of money is stable over time. This concept provides objectivity and reliability, although its relevance may fluctuate. From the following answer choices, choose the name of the accounting concept that matches the description.


A) Measuring-unit concept
B) Full-disclosure concept
C) Cost concept
D) Time-period concept

Correct Answer:

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