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1. Is it still possible to do accounting without an identifiable entity? 2. What is the economic entity assumption in accounting? 3. What is the

1. Is it still possible to do accounting without an identifiable entity?
2. What is the economic entity assumption in accounting?
3. What is the most fundamental requirement in accounting?
4. Examples of separate record-keeping?
5. What is the main purpose of doing separate record-keeping?
6. What are the four most common types of business entities (ownership) and characteristics of each entity?
7. Are economic entity and legal entity same or different? Any example of it?

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