Juan Has an Accounting Philosophy According to Which He Keeps

question 85

Multiple Choice

Juan has an accounting philosophy according to which he keeps the loans borrowed from the business separate from the loans he takes from banks for his own purposes.Which of the following basic accounting concepts is reflected in Juan's accounting philosophy?

• A) The business entity idea
• B) The going concern expectation
• C) The accounting equation
• D) The revenue and expense premise

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Definitions:

Followership

The behaviors and actions of individuals who follow or support a leader, contributing to the achievement of shared goals.

Kelley's Followership

Refers to a theory that categorizes followers based on their level of engagement, thinking style, and support of leadership.

Typology

A classification system based on types or categories, often used in social sciences to categorize phenomena or behaviors.

Alienated

Feeling isolated or estranged from a group or society, often as a result of experiencing or perceiving a lack of connection or belonging.