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Frank Strazza
on Nov 14, 2024

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A basic assumption of accounting assumes that the dollar is

A) unrelated to business transactions.
B) a poor measure of economic activities.
C) the common unit of measure for all business transactions.
D) useless in measuring an economic event.

Basic Assumption

Basic Assumption is a foundational principle that underlies or is assumed to be the basis of reasoning, actions, decisions, or theories.

Dollar

The basic monetary unit used in the United States and some other countries.

Economic Activities

Actions that involve the production, distribution, and consumption of goods and services in an economy.

  • Comprehend essential accounting principles, including capital, liabilities, the core accounting equation, and the process of logging business activities.
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Tyler BodenNov 21, 2024
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