Question: Which principle determines the amount initially entered into the records for purchases? a. Cost concept b. Going concern concept c. Business entity concept d. Objectivity

Which principle determines the amount initially entered into the records for purchases? a. Cost concept b. Going concern concept c. Business entity concept d. Objectivity conceptWhich of the following is true of return on assets? a. It is a measure of a company's profitability. b. It is used to evaluate a company's ability to pay off its short-term debts. c. It is used to determine the financial leverage of a company. d. It is a measure of the optimum capital structure

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