Financial accounting uses money measures to gauge the impact of business transactions on a separate business entity.

Question:

Financial accounting uses money measures to gauge the impact of business transactions on a separate business entity. Indicate whether each of the following words or phrases relates most closely to

(a) A business transaction

(b) A separate entity

1. Corporation

2. Euro

3. Sales of products

4. Receipt of cash

5. Sole proprietorship

6. U.S. dollar

7. Partnership

8. Owner’s investments

9. Japanese yen

10. Purchase of supplies

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Principles of Accounting

ISBN: 978-1439037744

11th Edition

Authors: Needles, Powers, crosson

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Question Posted: Feb 22, 2012 11:38 PM

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Financial accounting uses money measures to gauge the impact of business transactions on a separate business entity.

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1 b A separate entity 2 c A money measure 3 a A bu...View the full answer

Principles of Accounting

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