Events that could have a negative impact on organizational objectives:
a. opportunities
b. embezzlement
c. fraud
d. risks
Question 2
Team Shirts purchased 2,000 worth of T-shirts from a company in Guatemala. Team Shirts recorded the value of the transaction in U.S. dollars. Which accounting rule applies to this situation?
A) monetary-unit assumption
B) consistency
C) relevance
D) full-disclosure principle