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The CEO of a Business Owns a Home and Two

Question 51

Multiple Choice

The CEO of a business owns a home and two automobiles. The company the CEO works for also owns automobiles and a home in a remote area used for strategic planning meetings by its executives. Which principle or assumption "draws a sharp boundary" around the possessions of the CEO and the assets of the business for which he works?


A) the stable-monetary-unit assumption
B) the objectivity assumption
C) the going-concern assumption
D) the entity assumption

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