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.

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Definitions:

Fair Market Value

The price a willing, informed, and not under pressure buyer would pay to a willing, informed, and not under pressure seller in the market.

No-Par

No-par refers to shares of stock issued without a par value, which means the stock's face value is not set and is determined by the market.

Sub-Par

A term indicating something is below an expected level of quality, performance, or standard.

Directors And Officers

Individuals appointed or elected to oversee and manage a corporation or organization and make strategic decisions.