Why is the economic entity assumption so important to accounting?

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Horngrens Accounting Volume 1

ISBN: 9780135359709

11th Canadian Edition

Authors: Tracie Miller Nobles, Brenda Mattison, Ella Mae Matsumura, Carol Meissner, JoAnn Johnston, Peter Norwood

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Question Posted: May 08, 2024 12:00 PM

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Why is the economic entity assumption so important to accounting?

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The economic entity assumption also known as the entity concept is fundamental to accounting because it serves as the foundation for the preparation o...View the full answer

Horngrens Accounting Volume 1

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