Which of the following is not a
quality associated with faithful representation?
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Complete
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All of
these answer choices are correct.
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Materiality
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Neutral
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The concept that a business has a reasonable
expectation of remaining in business for the foreseeable future is called the
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monetary
unit assumption.
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going
concern assumption.
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periodicity
assumption.
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economic
entity assumption.
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Relevant accounting information
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is
information that is capable of making a difference in a business decision.
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is
information that has been audited.
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must be
reported within the operating cycle or one year, whichever is longer.
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has
been objectively determined.
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The most generally accepted value used in
accounting is market value.
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True
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False
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The excess of current assets over current
liabilities is called working capital.
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True
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False
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