The accounting assumption that requires every business to be accounted for separately from other business entities, including its owner or owners is known as the:
A. Objectivity principle.
B. Business entity assumption.
C. Going-concern assumption.
D. Revenue recognition principle.
E. Cost principle.
Answer: B
If the answers is incorrect or not given, you can answer the above question in the comment box. If the answers is incorrect or not given, you can answer the above question in the comment box.