Question

2. An entity requires a stapler. Instead of recognizing the cost of the stapler as
an asset to be subsequently depreciated, Aeris Trading immediately charges it to
expense. This is an application of which of the following concept?
A. Prudence
C. Cost-benefit
B. Materiality
D. B and C
3. Which of the following does not answer the question" how financial reporting
is done?"
A. Assumptions
B. Principles
C. Constraints
D. Objectives
4. The owner of Company A is Mr. Arrow and is going out of business because
he lost all the money in the cockpit. What accounting assumption is applica-
ble in this situation?
A. Going concern
C. Consistency
B. Separate entity
D. A and C
5. Under this concept, amounts in the financial statements are stated in terms of
common unit of measure and inflation is generally ignored.
A. Prudence
C. Stable monetary unit
B. Materiality
D. Ignoring concept​

Answer 1

Answer:

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Answer 2

Answer:

no longer questions please