The Accounting Concept That Requires Every Business to Be Accounted

question 176

Multiple Choice

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)Business entity assumption.
• C)Going-concern assumption.
• D)Revenue recognition principle.
• E)Cost principle.

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Definitions:

Robbery Prevention

Strategies and practices designed to reduce the risk of theft or robbery in homes, businesses, and communities.

Awareness Training

Educational programs aimed at enhancing understanding of specific issues or topics, such as cybersecurity or diversity.

Needs Analysis Model

A systematic approach for identifying and assessing needs within an organization or system to inform improvements or interventions.

Employee Absenteeism

The frequent absence of an employee from work, beyond normal or expected levels, that can affect business productivity.