The economic entity assumption states that
A) the economic life of a business can be divided into artificial time periods.
B) economic events can be identified with a particular entity.
C) the accounting period should not exceed one year.
D) it is assumed that the business will operate indefinitely.
Correct Answer:
Verified
Q14: Which of the following is not a
Q15: The matching principle dictates that expenses are
Q16: The going concern assumption assumes that the
Q17: If generally accepted accounting principles did not
Q19: GAAP are standards and rules recognized as
Q20: Which of the following statements is not
Q21: The revenue recognition principle dictates that revenue
Q22: The information provided in the notes that
Q23: Expenses are recognized when
A)cash is paid.
B)the work
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