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    Intermediate Accounting Study Set 10
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    Exam 2: Conceptual Framework Underlying Financial Reporting
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    A Local Business Man Owns Several Different Companies
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A Local Business Man Owns Several Different Companies

Question 32

Question 32

Multiple Choice

A local business man owns several different companies.His accountant prepares separate annual financial statements for each of these businesses.This is an application of which of the following principles:


A) Full disclosure
B) Periodicity
C) Economic entity
D) Matching

Correct Answer:

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