Elance Exams Answers PDF file

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What is the economic entity assumption?

Requires that activities of the bookkeeper be kept separate and distinct from the activities of its owner and all other economic entities
Requires that activities of the entity be kept separate and distinct from the activities of its owner and all other economic entities
Requires that activities regarding payroll be kept unified and combined with the activities of its owner and all other economic entities
Requires that activities of the entity be kept unified and combined with the activities of its owner and all other economic entities
Requires that activities regarding payroll be kept separate and distinct from the activities of its owner and all other economic entities
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