Recent Posts • Latest Topics • Unanswered Questions

Joshua Thomas Corporation manufactures and retails computer hardware. The president of the ...

H3Ko

wrote...

Go to Answer

Posts: 4891

Rep:

7 years ago

Joshua Thomas Corporation manufactures and retails computer hardware. The president of the ...

Joshua Thomas Corporation manufactures and retails computer hardware. The president of the corporation bought a new car as a gift for his daughter and paid for it using cash from the business. Since the corporation paid for the car, it was recorded in its books as an asset. Which of the following concepts or principles of accounting did the corporation violate?
A) going concern assumption
B) economic entity assumption
C) cost principle
D) monetary unit assumption

Textbook

Horngren's Financial & Managerial Accounting, The Financial Chapters

Edition: 5^th

Authors: Miller-Nobles, Mattison, Matsumura

Read 199 times

2 Replies

Report

Replies

Answer verified by a subject expert

Tanks

wrote...

Related Topics

H3Ko Author

wrote...

7 years ago

YES! Can't believe I got this one right. Appreciate the confirmation

Report

New Topic

Quick Reply

Explore

Post your homework questions and get free online help from our incredible volunteers

1311 People Browsing

Start New Topic Take the Tour CoursesNew Study Tools Topics Trending Browse by Textbook

Live Chat

AJAX Chat © blueimp.net Integrated with SMF

Related Images

4430

287

719

Your Opinion

Previous poll results: Should Ph.D.'s be addressed as doctors?

Strange Ingredients Lurking in Doritos Chips

Courses by Biology Forums

Bonobos, Chimpanzees, and the 98% DNA Link

It's sore throat season, why does my mucus have red spots?

The Toxic Skin and Fungi Defense

Ready to ask a question on Biology Forums? Try it out

Join Our Community

Biology Forums - Study Force is a free online homework help service catered towards college and high school students. Get homework help and answers to your toughest questions in biology, chemistry, physics, mathematics, engineering, accounting, business, humanities, and more. Master your assignments quickly with thousands of step-by-step solutions to countless textbook questions asked and answered by our members. If we don't have your question, don't worry. You can ask any homework question and get expert homework help in as little as two hours.

Our extensive online study community is made up of college and high school students, teachers, professors, parents and subject enthusiasts who contribute to our vast collection of study resources: textbook solutions, study guides, practice tests, practice problems, lecture notes, equation sheets and more. With our help, your homework will never be the same!

Join for free today

How is Biology Forums - Study Force different than tutoring?

Home Search Q & A Board Gallery Resource Library Blog Dictionary Chat	Quick Links Start a Topic Latest Topics Unanswered Questions Courses Study Tools Browse by Textbook	Social Facebook YouTube Community Stats Who's Online Trending Staff	Help About Us Take the Tour Study Tips Posting Guidelines Terms and Policies Contact Us
Biology Forums - Study Force © 2010-2024 \| Powered by SMF \| SMF © 2015, Simple Machines \| Sitemap Biology-Forums.com is not affiliated with any publisher. Book covers, title and author names appear for reference only.