Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. 5. a local businessman owns several different comp

5. A local businessman owns several different companies. His accountant prepares separate financial statements for...

80.2K

Verified Solution

Question

Accounting

5. A local businessman owns several different companies. His accountant prepares separate financial statements for each of these businesses. This is an application of the

a) full disclosure principle.

b) periodicity assumption.

c) going concern assumption.

d) economic entity assumption.

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Zin AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Q

Determine the discharge through a trapezoidal section with a bottom width of 20 ft and...

Basic Math
Q

A) Use the differences in stem morphology, primary and secondary growth to explain why eudicots are...

Biology
Q

Sketch 2 curves on the same graph for mammalian cells: after X-rays and after alpha-particles irradiation....

Physics
Q

The picture shows 14 species of finches from the Galapagos islands that likely descended from...

Biology
Q

ePage s 93 94 Drag the molecules to their best matches below Drag each item...

Biology
Q

In Newton's law of universal gravitation, the force between two masses is proportional to the...

Physics
Q

Use triangles to find the sum of the interior angle measures of each polygon a...

Geometry
Q

Find the general solution of the given second-order differential equation. 25y" 15y' -...

Basic Math
Q

After liquidating noncash assets and paying creditors, account balances in the Mann Co. are Cash...

Accounting
Q

Eva received $64,000 in compensation payments from JAZZ Corp. during 2018. Eva incurred $11,500 in...

Accounting
Q

Simon Companys year-end balance sheets follow. At December 31 Current Year 1 Year...

Accounting
Q

G sold 1,000 shares of Need Ltd. for $7,000 early in the current year. The...

Accounting