BUSINESS ADMINISTRATION
BUSINESS ENVIRONMENT
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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A dentist buys a yacht and pays with a check from his business. He has violated what?
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The cost principle
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The economic entity concept
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The monetary unit assumption
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The going concern assumption
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Explanation:
Detailed explanation-1: -Purchase of car for personal use is not relating to business and is not a business transaction.
Detailed explanation-2: -IBRD’s main objective is to provide financial assistance to middle-income countries, however, it also provides information services and strategic coordination to its borrowing member countries. IBRD only finances government-backed projects or directly finances sovereign governments.
There is 1 question to complete.