Joshua Thomas Corporation Manufactures and Retails Computer Hardware

question 113

Multiple Choice

Joshua Thomas Corporation manufactures and retails computer hardware.The president of the corporation bought a new car as a gift for his daughter and paid for it using cash from the business.Since the corporation paid for the car,it was recorded in its books as an asset.Which of the following concepts or principles of accounting did the corporation violate?

• A)monetary unit assumption
• B)economic entity assumption
• C)cost principle
• D)going concern assumption

---

Definitions:

Dopamine

A neurotransmitter associated with the brain's reward and pleasure systems, as well as motor function and motivation.

Antidepressant Drugs

Medications used to treat various forms of depression and sometimes other conditions by balancing neurotransmitters in the brain to improve mood and affect.

Dopamine

A neurotransmitter involved in many functions, including reward, motivation, memory, attention, and even regulating some body movements.

Serotonin Synapses

The junctions between neurons where serotonin, a neurotransmitter involved in mood regulation, is transmitted.