The Accounting Concept That Requires Every Business to Be Accounted

question 272

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)Measurement (Cost)principle.

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Definitions:

Measure

A term for determining the size, quantity, or degree of something.

Power Pivot

A feature within Microsoft Excel that allows for powerful data analysis and visualization, enabling users to work with large datasets from various sources and create complex relational models.

Power Pivot

A powerful data analysis and data modeling tool within Microsoft Excel that allows users to create complex data models, establish relationships, and perform comprehensive data analysis.

Excel Tables

A structured range of related data formatted to enable easy management, analysis, and visualization directly within Excel.