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Arisa [49]
3 years ago
5

What does the business entity principle primarily prevent?

Business
2 answers:
s2008m [1.1K]3 years ago
7 0

Answer:

The business entity concept states that the transactions associated with a business must be separately recorded from those of its owners or other businesses. Doing so requires the use of separate accounting records for the organization that completely exclude the assets and liabilities of any other entity or the owner.

Effectus [21]3 years ago
4 0

Answer:

The business entity principle states that the business and its owner are two separate entities in the eyes of the law. Therefore, their respective investments, withdrawals, income, expenses, profits, and losses should also go into separate accounts. The business accounts should never include the owner’s personal transactions because this might lead to ambiguous accounting information. Thus, the business entity principle primarily prevents a distorted view of the financial condition of the business. It helps in getting a clear understanding of how well the business is actually doing.

Explanation:

sample response given when you check your work

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Sovereignty can best be described as ________.
Lisa [10]

Answer:

a government asserting control over and responsibility for its citizens and their actions.

Explanation:

Sovereignty means the power, right and ability of a government to exercise control over itself without any foreign or external control. It means the state of being supreme in authority.

Sovereignty enables a state or a government have total control over its citizens without external influence and also gives a state the capacity to enter into relations with other states. Sovereignty gives power to the people to have their leaders or government elected hence important because such government must be respected due to its sovereign status.

6 0
3 years ago
Name two of accounts used in commercial banks​
Leto [7]
Current account

Saving account
7 0
3 years ago
Suppose there are three buyers of candy in a market: Tex, Dex, and Rex. The market demand and the individual demands of Tex, Dex
spin [16.1K]

Answer:

I don't know.

Explanation:

there is no table to see.

4 0
3 years ago
Which of the following is an advantage of buying a home?
murzikaleks [220]
The best and most correct answer among the choices provided by the question is the first choice "You can invest in property."<span>
Homes<span> typically increase in value, build equity and provide a nest egg for the future. Your costs are predictable and more stable than renting because they're ideally based on a fixed-rate mortgage. The interest and property tax portion of your mortgage payment is a tax deduction.
</span>

I hope my answer has come to your help. God bless and have a nice day ahead!</span>
5 0
4 years ago
Read 2 more answers
If stock you own is worth say 30,000 but you don't sell and notice it is going down but you hope it will go back up and keep it,
MatroZZZ [7]

Answer:

YES

Explanation:

If a stock you own is worth say $30,000 and you eventually sell it for $10,000, that is considered a loss on your taxes and you can count it as a loss on your taxes.

The situation given in the scenario is obviously that of capital erosion or capital loss.

Just like it would have been counted as capital gains if you had made a profit on the sale of the shares which would have been taxable, so also is it possible to make tax deductions on your returns when you make capital losses.

Hence, the loss amount can be deducted (offset) from other capital gains or ordinary income in your tax return.

5 0
3 years ago
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