Multiple Choice
The accounting concept that requires every business to be accounted for separately from other business entities,including its owner or owners is known as the:
A) Time-period assumption.
B) Business entity assumption.
C) Going-concern assumption.
D) Revenue recognition principle.
E) Cost principle.
Correct Answer:
Verified
Correct Answer:
Verified
Q90: An example of an investing activity is:<br>A)
Q111: If assets are $365,000 and equity is
Q125: The Financial Accounting Standards Board is the
Q151: The income statement shows the financial position
Q173: Internal operating activities include research and development,
Q178: The private-sector group that currently has the
Q189: The _ describes a company's revenues and
Q227: A balance sheet covers activities over a
Q284: An external transaction is an exchange within
Q291: Owner's equity is increased when cash is