A Basic Assumption of Accounting That Requires Activities of an Entity

question 3

Multiple Choice

A basic assumption of accounting that requires activities of an entity be kept separate from the activities of its owner is referred to as the

• A) stand alone concept.
• B) monetary unit assumption.
• C) corporate form of ownership.
• D) economic entity assumption.

---

Definitions:

Interpersonal Orientation

The degree to which an individual focuses on and prioritizes the development, maintenance, and enhancement of interpersonal relationships.

External Locus Control

The belief that outside forces, beyond one's personal control, significantly influence one's life circumstances or destiny.

Absenteeism

The habitual non-presence of an employee at their job, which can be due to various reasons including illness, personal issues, or disengagement.

Kohlberg's Model

A theory proposed by Lawrence Kohlberg that outlines the stages of moral development in individuals.