Which of the Following Concepts (Or Principles)would Dictate That a Person

question 124

Multiple Choice

Which of the following concepts (or principles) would dictate that a person with three different businesses keep three different checking accounts?

• A) Cost principle
• B) Faithful representation principle
• C) Going-concern concept
• D) Entity concept

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Definitions:

Marginal-Cost Curve

A graphical representation that shows the cost of producing one more unit of a good.

Average-Total-Cost Curve

A graphical representation showing how the average total cost of production changes as the quantity of output is altered.

GPA

Grade Point Average, a measure of a student's academic achievement at a college or university, calculated as a numerical average of grades.

Short Run

A period in which at least one factor of production is fixed, limiting the ability of the economy or firm to adjust to changes.