Without the Business Entity Convention, Which Item in the Statement

question 57

Multiple Choice

Without the business entity convention, which item in the statement of financial position would not exist?

• A)Assets.
• B)Equity.
• C)Liabilities.
• D)Cash at bank.

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Definitions:

Stimulus

Any event or situation that evokes a response from an organism.

Sensory Apparatus

The complex of sensory organs and parts an organism uses to detect changes in its environment.

Vestibular Receptors

are sensory receptors in the inner ear responsible for detecting movement and changes in the position of the head, important for balance and spatial orientation.

Body Position

The posture or arrangement of the body and its limbs, which can influence various physiological and psychological processes.