To Include the Personal Assets and Transactions of a Business's

question 147

Multiple Choice

To include the personal assets and transactions of a business's stockholders in the records and reports of the business would be in conflict with the:

• A)Objectivity principle.
• B)Monetary unit assumption.
• C)Business entity assumption.
• D)Going-concern assumption.
• E)Revenue recognition principle.

---

Definitions:

Bill of Rights

The first ten amendments to the United States Constitution, guaranteeing specific freedoms and rights to American citizens.

Federal Government

The national government of a federal state, which shares power with subnational entities such as states or provinces.

State Action

Activities or conduct carried out by government or governmental officials, particularly with respect to whether an action can be challenged as unconstitutional.

Public Function

An activity or service that is traditionally the responsibility of the government and is performed or carried out for the benefit of the public.