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In the hierarchy of effects, adoption refers to
Business Entity Assumption
An accounting principle that treats a business as separate from its owners or other businesses.
Business Entities
Business entities are legal structures through which business is conducted, such as sole proprietorships, partnerships, corporations, and limited liability companies.
Owners
Individuals or entities that hold legal rights and ownership of a company or property.
Measurement
The process of determining the size, length, or amount of something, typically using standard units.
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