If an Entity Can Exist Apart from One or More

question 5

Multiple Choice

If an entity can exist apart from one or more related entities,it is said to be ____-independent.

• A) existence
• B) relationship
• C) business
• D) weak

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Definitions:

Check Printing

The process of writing and creating checks from a bank account for payment purposes.

Cash Balance

The amount of cash on hand at a given time, reflecting the liquidity position of an entity, as recorded in the financial statements.

Petty Cash Fund

A small amount of cash kept on hand for making immediate, low-value payments instead of writing checks.

Transportation-In

Costs associated with bringing inventory to a business, which are often added to the purchase price of goods.