Bill Rogers Has Three Different Businesses

question 147

Multiple Choice

Bill Rogers has three different businesses.He has only one bank account for transactions relating to all of his various businesses.Which of the following concepts or principles of accounting is Bill violating?

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

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Definitions:

Central Nervous System (CNS) Stimulant

A class of drugs that increase brain activity, leading to increased alertness, attention, and energy.

Sertraline

An antidepressant medication belonging to the Selective Serotonin Reuptake Inhibitor (SSRI) class, used to treat depression, anxiety disorders, and other mental health conditions.

Slow-Wave Sleep

A deep sleep stage, characterized by slow brain waves, that is important for physical and mental restoration.