Question $3$ of $15$

This test: $100$ point$($s$)$ possible

This question: $6$ point$($s$)$ possible

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Stuart Allen Corporation manufactures computer hardware. The president of the corporation bought a new car as a gift for his daughter and paid for it using cash from the business. Since the corporation paid for the car, it was recorded in its books as an asset. Which of the following concepts or principles of accounting did the corporation violate?

A$.$ economic entity assumption

B$.$ monetary unit assumption

C$.$ going concern assumption

D$.$ cost principle