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

question 56

Multiple Choice

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

• A)Going concern assumption
• B)Accrual basis of accounting
• C)Accounting period concept
• D)Entity concept

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Definitions:

Internal Motive

An intrinsic drive or reason that prompts an individual to act or behave in a certain way, often linked to personal satisfaction or desire.

Negative Stereotypes

Simplified and generally fixed perception of particular groups that is often unfavorable and incorrect.

Externally Motivated

Driven by external rewards or pressures rather than personal interest or intrinsic desire.

Impoverished Background

A situation where an individual or family lives in a state of financial hardship or poverty, lacking sufficient resources for a standard living.