The economic entity concept requires that an entity's business activities be combined with the activities of its owner for financial reporting purposes.

Name: The economic entity concept requires that an entity's business activities be combined with the activities of its owner for financial reporting purposes.
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Question

Quizplus · Accepted Answer

The economic entity concept requires that an entity's business activities be kept separate from the personal activities of its owner for financial reporting purposes.

The Economic Entity Concept Requires That an Entity's Business Activities