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A regional manager travels frequently for work, using a company credit card to pay for hotel costs. One weekend, he uses his company credit card
A regional manager travels frequently for work, using a company credit card to pay for hotel costs. One weekend, he uses his company credit card to pay for his family to stay at a hotel on a personal vacation. However, he does not inform the company that the transaction was for personal use. This is in violation of which key assumption in financial reporting?
periodicity assumption
going concern assumption
monetary unit assumption
economic entity assumption
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