Which of the Following Conventions Dictates That a Sole Owner's

question 3

Multiple Choice

Which of the following conventions dictates that a sole owner's personal transactions should not be included in the records of the business?

• A)Accounting period.
• B)Business entity.
• C)Prudence.
• D)Historic cost.

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Definitions:

Exercise

Exercise is physical activity that is planned, structured, and repetitive for the purpose of conditioning any part of the body, improving health, and maintaining fitness.

Concurrent Validity

Evidence that test scores are related to an external source that can be measured at around the same time the test is being given (“here and now” validity). This is a type of criterion-related validity.

Predictive Validity

The extent to which a test score or instrument can predict the performance or outcomes on relevant future measures.

Criterion-related Validity

A measure of how well one variable or test predicts an outcome based on information from other variables.