Multiple Choice
Which of the following concepts (or principles) would dictate that a person with three different businesses keeps three different bank accounts?
A) Going concern assumption
B) Accrual basis of accounting
C) Accounting period concept
D) Entity concept
Correct Answer:
Verified
Correct Answer:
Verified
Q51: The concept of sustainability in terms of
Q52: Which of the following statements BEST defines
Q53: The balance sheet of a business represents
Q54: If a proprietorship cannot pay its debts,the
Q55: Each financial statement includes a heading giving
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Q58: You can evaluate business performance in terms
Q59: Which of the following is NOT one
Q60: Which of the following statements BEST describes
Q61: The statement of changes in equity shows