When Tamar Snyder opened a shoe store, her accountant did not include the cash in her personal savings account as one of the assets of the business. This is an example of
A) the conservatism constraint.
B) the materiality constraint.
C) industry practice constraint.
D) the separate entity assumption.
Correct Answer:
Verified
Q18: Which of the following statements is not
Q19: Most businesses follow the general rule that
Q20: Assets are recorded at cost when they
Q21: The separate economic entity assumption assumes that:
A)the
Q22: The Cervantes Company uses the same method
Q24: Which of the following is allowed under
Q25: An accountant who records revenue when a
Q26: The monetary unit assumption assumes that:
A)the value
Q27: Which of the following statements is correct?
A)Under
Q28: Accounting information that could make a difference
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents