A business interest that constitutes a large part of an individuals total assets should be presented in

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A business interest that constitutes a large part of an individual’s total assets should be presented in a personal statement of financial condition as

a. A single amount equal to the proprietorship equity.

b. A single amount equal to the estimated current value of the business interest.

c. A separate list of the individual assets and liabilities, at cost.

d. Separate line items of both total assets and total liabilities, at cost.

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Related Book For  answer-question

Advanced Financial Accounting

ISBN: 9781260165111

12th Edition

Authors: Theodore Christensen, David Cottrell, Cassy Budd

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