Which concept is the reason the dollar is used in the preparation of financial statements?
A)Going concern
B)Legal entity
C)Consistency
D)None of these choices.

Name: Which concept is the reason the dollar is used in the preparation of financial statements? A)Going concern B)Legal entity C)Consistency D)None of these choices.
Brand: Quizplus
Rating: 4.8 (34 reviews)

Question

Quizplus · Accepted Answer

The use of the dollar in financial statements is due to the monetary unit assumption, which is not listed among the given choices.

Which Concept Is the Reason the Dollar Is Used in the Preparation