Which One of the Following Statements Is True

Multiple Choice

Which one of the following statements is true?

A) Recognition is concerned with the dollar amount of each economic effect that should be reported in the financial statements.
B) Measurement is concerned with how economic effects should be quantified.
C) The stability concept is concerned with identification of the specific entity for which economic effects are to be recognized and measured.
D) The monetary unit assumption is concerned with the valuation of economic effects in terms of current purchasing power.