menu-iconExamlexExamLexServices

Discover

Ask a Question
  1. All Topics
  2. Topic
    Business
  3. Study Set
    Accounting Study Set 2
  4. Exam
    Exam 2: Financial Statements for Decision Making
  5. Question
    The Basis Upon Which the Personal Assets of the Owner
Solved

The Basis Upon Which the Personal Assets of the Owner

Question 43

Question 43

Multiple Choice

The basis upon which the personal assets of the owner are excluded from the business's balance sheet is referred to as which assumption?


A) Materiality
B) Accounting entity
C) Accrual basis
D) Going concern

Correct Answer:

verifed

Verified

Unlock this answer now
Get Access to more Verified Answers free of charge

Related Questions

Q38: Which of the following statements concerning the

Q39: The two fundamental qualitative characteristics of accounting

Q40: On 28 February Harold's Speedy Dry Cleaning

Q41: A balance sheet:<br>A) reports the financial position

Q42: Lindy Jones withdrew $500 from her business

Q44: A financial statement headed 'for the year

Q45: Jacob's opening capital at 1 July 2017

Q46: Which of the following statements is correct?<br>A)

Q47: Henry is an accountant operating as a

Q48: An income statement can also be referred

Examlex

ExamLex

About UsContact UsPerks CenterHomeschoolingTest Prep

Work With Us

Campus RepresentativeInfluencers

Links

FaqPricingChrome Extension

Download The App

Get App StoreGet Google Play

Policies

Privacy PolicyTerms of ServiceHonor CodeCommunity Guidelines

Scan To Download

qr-code

Copyright © (2025) ExamLex LLC.

Privacy PolicyTerms Of ServiceHonor CodeCommunity Guidelines