0
Assumptions are traditions and customs, which have been developed over a period of time and well-accepted by the profession. By ONASANYA OLUWASEUN FRANCIS
Wiki User
∙ 11y ago
Add your answer:
Earn +20 pts
What is the definition of making an assumption from observations?
what is the difference between an observation and an assumption
What is the definition of 'cost concept'?
" Under the Cost Concept, amounts are initially recorded in the accounting records or purchase price," Introduction to Accounting and Business by Warren, Reeve and Duchac.
What is the definition of factual claim?
Factual claim is supported by evidence/fact rather than any assumption or presumption.
What is the dictionary definition of condescension?
Condescension is an attitude or act of patronizing superiority.
What is a synonym for assume?
The verb "assume" in noun form would be "assumption." An assumption is something that people accept as a truth or a certainty of occurence, despite no presence of proof. Another definition of the word assumption is to take on a role or responsibility.
Which accounting assumption assumes that all accounting information is reported monthly or yearly?
By definition the time period assumption presumes that the life of a company can be divided into time periods, such as months and years, and that useful reports can be prepared for those periods. Answer is Time period assumption
What is a fundamental assumption?
accounting assumption is nothing
What accounting assumption states that the business rather than its owners is the reporting unit?
entity assumption
What are the basic assumptions in accounting?
Economic Entity Assumption Going Concern Assumption Monetary Unit Periodicity(Time Period) Assumption
What is accounting assumption?
accounting assumptions provide a foundation for recording the transactions and preparing the financial statements there from.
Which accounting assumption assumes that an enterprise will continue in operation long enough to carry?
going concern assumption
What is economic entity assumption?
Economic entity assumption is an assumption under the Generally Accepted Accounting Principles that separates the stakeholders from the business itself. The business is its own entity. Economic entity assumption is an assumption under the Generally Accepted Accounting Principles that separates the stakeholders from the business itself. The business is its own entity.
What are the most important accounting principles?
There are many accounting principles and many are very important in their own way. The top three most important principles are: Economic Accounting Principle, Monetary Unit Assumption, and Time Period Assumption.
What is the definition of making an assumption from observations?
what is the difference between an observation and an assumption
Which accounting term best describes assumption made in applying the four inventory methods?
Cost Flow Assumption
Definition of accounting as an art?
expalin accounting as an art?
Definition of computer accounting?
Writing resume/, economic,/ statement month/,finance,and business
