Under the going concern principle, accountants must provide proof that the business will remain in operations long enough to use existing resources for their intended purpose
Indicate whether the statement is true or false
FALSE .Accountants base going concern on assumptions. Actual proof is not needed to make this determination.
Business
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Real estate commission rates are
a. established by the California Department of Real Estate. b. should be no lower than 2%. c. should be no higher than 10%. d. are not fixed by law.
Business
The federal government has recently established more stringent regulations on subprime mortgages
Indicate whether the statement is true or false.
Business