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:

Self-Control

The ability to regulate one's emotions, thoughts, and behavior in the face of temptations and impulses.

Regulating Behaviors

Involves controlling or guiding one's actions or responses according to social norms, personal values, or psychological principles.

Anxiety

Attachment dimension suggesting a negative view of oneself.

Heart Attack

A medical emergency involving the blockage of blood flow to the heart muscle, often resulting in damage or death to part of the muscle.