Author Question: On any given day, it is unlikely that the balance in the cash account on the depositor's general ... (Read 158 times)

beccaep · **on:** Jul 5, 2018

On any given day, it is unlikely that the balance in the cash account on the depositor's general ledger (or books) will be the same as the bank balance.
a. True
b. False
Indicate whether the statement is true or false

Question 2

The monetary-unit assumption refers to ________.

A) measuring financial statement items at their cost at the time of the transaction
B) an assumption that a company will continue to be in business in the future
C) the use of monetary units, such as dollars, to measure the value of financial statement amounts
D) the way revenues and expenses are recognized