Multiple Choice
The Great Drink Company,in preparing its balance sheet,excludes the general manager's personal motor vehicle (not used in the business) because of which of the following accounting assumption?
A) The historical cost assumption
B) The reliability assumption
C) The accounting entity assumption
D) The accounting period assumption
Correct Answer:

Verified
Correct Answer:
Verified
Q14: During 2016,a company makes credit sales of
Q16: Which of the following statements about external
Q17: Which of the following statements about an
Q18: What is the net profit for 2016
Q20: The life of a business is divided
Q21: Mike's Mulching (MM)had the following assets and
Q22: Which of the following statements about shareholders'
Q22: LPR is a company that commenced business
Q23: Which of the following statements about an
Q24: Which of the following is NOT an