The reporting entity concept applies to
A)sole proprietorships only.
B)partnerships only.
C)corporations only.
D)all three forms of business organizations.

Question

Quizplus · Accepted Answer

The reporting entity concept applies to all forms of business organizations, including sole proprietorships, partnerships, and corporations. This concept allows these entities to prepare and present financial reports separately from the personal financial information of their owners or other businesses.

The Reporting Entity Concept Applies to