The going concern concept:
A) Dictates that the recording of transactions should be based on reliable and verifiable evidence
B) Supports the use of historical cost to measure assets that will be used in operations rather than sold
C) Establishes the boundaries of the unit to be accounted for
D) Applies to entities that are bankrupt and in the process of liquidating
E) None of the above
Ans: B) Supports the use of historical cost to measure assets that will be used in operations rather than sold
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_____________ refers to the extent to which an organization uses vertical levels to separate job responsibilities.
Fill in the blank(s) with the appropriate word(s).
The ready availability of information technology has made ________ an escalating problem in all kinds and sizes of organizations
A) misuse of computers B) time spent surfing the web C) employee stealing D) collection of employee data E) surveillance of employees