The Accounting Assumption That Requires Every Business to Be Accounted

question 13

Multiple Choice

The accounting assumption that requires every business to be accounted for separately from other business entities, including its owner or owners is known as the:

• A) Time-period assumption.
• B) Business entity assumption.
• C) Going-concern assumption.
• D) Revenue recognition principle.
• E) Cost principle.

---

Definitions:

Internal Locus

An internal locus of control refers to the belief that individuals can influence events and their outcomes, relying on their own efforts and actions.

Emotion-focused Coping

A stress management strategy that involves reducing stress by minimizing, avoiding, or accepting the emotional response to a problem, rather than addressing the problem directly.

Electric Shocks

Sudden discharges of electricity through a part of the body, often used for therapeutic purposes or as a punishment.

Appetizing Food

Food that looks, smells, and tastes appealing, often stimulating a person's desire to eat.