Question $46$

$0\mathrm{.}25$ points

Joshua Thomas is the owner of Nexus Inc., a manufacturer and retailer of computer hardware. Joshua recently bought a new car as a gift for his

daughter. Since Joshua paid for the car from the earnings of the business, he recorded it in the books of Nexus as an asset. Which of the

following concepts or principles of accounting is Joshua violating?

monetary unit assumption

economic entity assumption

cost principle

going concern assumption