The Separate Entity Assumption Means

Multiple Choice

The separate entity assumption means:

A) a company's financial statements reflect only the business activities of that company.
B) each separate owner's finances must be revealed in the financial statements.
C) each separate entity that has a claim on a company's assets must be shown in the financial statements.
D) if the business is a sole proprietorship,the owners' personal activities are included in the company's financial statements.