Multiple Choice
Bill Rogers has three different businesses.He has only one bank account for transactions relating to all of his various businesses.Which of the following concepts or principles of accounting is Bill violating?
A) Entity concept
B) Accounting period concept
C) Accrual basis accounting
D) Going concern concept
Correct Answer:
Verified
Correct Answer:
Verified
Q45: Martin Supply Service received $1 000 cash
Q46: Equipment is sold for cash in an
Q47: Tim contributes capital into his business.The two
Q49: The total assets and the total
Q50: Star Homes Ltd just recorded a transaction
Q51: The concept of sustainability in terms of
Q52: Which of the following statements BEST defines
Q53: The balance sheet of a business represents
Q94: Accounting is the language of business.
Q242: Equity increases when revenues are earned.