Great Britain
Ireland
Lewis and Harris
Skye
Shetland Mainland
Mull
1)<span>the Senate </span>rejected the Treaty of Versailles<span> based primarily on objections to the League of Nations. The U.S. would never ratify the </span>treaty<span> or join the League of Nations.</span>.
2)The immediate economic consequences of the terms of the Treaty of Versailles were a significant concern and added to Germany's humiliation. Under the terms of the treaty Germany had to pay huge sums in reparations. In 1921, this amount was set at £6.6 billion; a sum that Germany could not pay
According to the economic entity concept acquired assets should be recorded at the amount actually paid rather than at the estimated market value.
<h3>What is
economic entity concept?</h3>
The economic entity principle is a fundamental accounting concept that requires businesses to be considered as distinct legal and financial entities. This means that all financial transactions involving the company should be kept separate from those involving the owner.
An economic entity is one of the assumptions made in generally accepted accounting standards in accounting. An economic entity can be almost any sort of organization or unit in society. Hospitals, businesses, towns, and government organizations are examples of economic entities.
A firm or organization and its owners are regarded separately in accounting. This is known as the entity idea. As a separate economic unit, the company stands apart from other organizations.
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