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attashe74 [19]
1 year ago
7

Not adjusting the amounts reported in the financial statements for inflation is an example of which basic principle of accountin

g?
Business
1 answer:
Kaylis [27]1 year ago
8 0

Not adjusting the amounts reported in the financial statements for inflation is an example of Monetary unit basic principle of accounting.

What is Monetary unit?

The monetary unit principle stipulates that only transactions that may be stated in terms of a currency should be documented. In other words, non-quantifiable items shouldn't be recorded in the financial statements of a company. Money has become a common measurement unit in accounting over time.

Therefore,

Not adjusting the amounts reported in the financial statements for inflation is an example of Monetary unit basic principle of accounting.

To learn more about monetary unit from the given link;
brainly.com/question/13415456

#SPJ4

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Answer:

Option 4 Building is the most valuable asset owned by Riya

Explanation:

The reason is that the asset lowers the breakeven point and also helps to increase the profit by offering at lower prices than the competitor to increase the product demand and earn more by increased demand (Demand and price relationship application). So the most valuable asset from the business perspective is building owned by Riya.

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2 years ago
When they need stronger horizontal alignment or cooperation to meet goals, functionally designed organizations should adopt a __
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3 0
3 years ago
Seth, Janice, and Lori each borrow 5,000 for five years at an annual nominal interest rate of 12%, compounded semi-annually. Set
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Answer:

The total amount of interest paid on all three loans is 8,748.

Explanation:

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Answer:

Option C.

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