The assumption that states any business needs to be accounted for separately from other business entities, including its owner or owners is:
A: Time-period assumption.
B: Business entity assumption.
C: Monetary unit assumption.
D: Going-concern assumption.
A: Time-period assumption.
B: Business entity assumption.
C: Monetary unit assumption.
D: Going-concern assumption.
举一反三
- The accounting concept that requires every business to be accounted for separately from other business entities, including its owner or owners is known as the: A: Time-period assumption. B: Revenue recognition principle. C: Measurement (Cost) principle. D: Business entity assumption. E: Going-concern assumption.
- The business entity assumption means that a business is accounted for separately from other business entities, including its owner or owners.
- The accounting concept that requires every business to be accounted for separately from other business entities, including its owner or owners is known as the: () A: Going-concern<br/>assumption. B: Business entity assumption. C: Objectivity principle. D: Cost<br/>Principle.
- The business entity assumption means that a business is accounted for separately from other business entities.
- 2. The business being separate and distinct from the owners is an integral part of the: A: a.time period assumption B: b.going concern assumption C: c.business entity assumption D: d.realization assumption