EARNING ANAGEMENT SYSTEM MOOC Fakulti Perniagaan, Ekonomi dan Perakaunan BT12203

Question

EARNING ANAGEMENT SYSTEM MOOC Fakulti Perniagaan, Ekonomi dan Perakaunan BT12203 [2-2017/2018] QUIZ 4 BT12203 Question 121. C1.The accounting assumption that requirek every Not yet answered business to be accounted for separately from other business Marked out of 1.00 P Flag questionSelect one: entities, including its owner or owners is known as the: a. Cost principle. b. Going-concern assumption c. Revenue recognition principle d. Business entity assumption. e. Time-period assumption Next UMS MaMPU

Explanation / Answer

Ans :- d. Business Entity Assumption.

As per Business Entity Assumption, All business entities shall be accounted seperately. Businesses, related businesses and it owners are considered as seperate and shall be accounted seperately though in the eyes of law they might be buniness entity and its owner are one. (e.g. Proprietorship)

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