18.36 Expert Q&A Done 134. Which For accountine fing purposes the business is treated as a separate entity from the owner. The accounting assumption does the comment below refer to? accounting records show transactions of the business not the owner Business entity Going Concern Money measurement 135. Which accounting concept does the comment below refer to? Profit is earned (realized) at the time the goods or services are passed to the customer and the customer incurs liability for them r Dual aspect Realization Full disclosure 136. Is accounts payable a liability? No Yes 37. What are accounts payable? Amounts owed to supplies Amounts owed to customers 138. If a purchase is made from a supplier on credit, the account debited is? Purchases Accounts payable 139. Suppose an invoice is received for 2,000 2% 15 days, net 30 terms. What is the discount taken if paid in 14 days? a. r b.40