Question
1. One of the fundamental assumptions in accounting is the Separate Entity Assumption (see Ch 1 p. 8 of the textbook for the definition. )
1. One of the fundamental assumptions in accounting is the "Separate Entity Assumption" (see Ch 1 p. 8 of the textbook for the definition. )
Following this assumption, and assuming you operate a restaurant in Downtown, Calgary, provide TWO examples of items/transactions that should NOT appear in the restaurant's accounting records. Briefly explain why.
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Government and Not for Profit Accounting Concepts and Practices
Authors: Michael Granof, Saleha Khumawala, Thad Calabrese, Daniel Smith
7th edition
1118983270, 978-1119175025, 111917502X, 978-1119175001, 978-1118983270
