Jack Sanders owns and operates Jacks Java Coffee Shop. He proposes to account for the shops assets

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Jack Sanders owns and operates Jack’s Java Coffee Shop. He proposes to account for the shop’s assets at their current market value in order to have current amounts on the balance sheet. Which accounting concept or principle does Jack violate?

a. Business entity principle

b. Going-concern principle

c. Reliability principle

d. Cost principle

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Financial Accounting

ISBN: 978-0134727790

5th edition

Authors: Robert Kemp, Jeffrey Waybright

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Question Posted: Dec 17, 2019 10:28 AM

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Jack Sanders owns and operates Jacks Java Coffee Shop. He proposes to account for the shops assets

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Financial Accounting

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