Joshua Thomas Is the Owner of Nexus Inc

Multiple Choice

Joshua Thomas is the owner of Nexus Inc., a manufacturer and retailer of computer hardware. Joshua recently bought a new car as a gift for his daughter. Since Joshua paid for the car from the earnings of the business, he recorded it in the books of Nexus as an asset. Which of the following concepts or principles of accounting is Joshua violating?

A) monetary unit assumption
B) economic entity assumption
C) cost principle
D) going concern assumption