The economic entity assumption requires that the activities Select one: a. of an entity be kept separate from the activities of its owner. b. of different entities can be combined if all the entities are corporations. C. must be reported to the Securities and Exchange Commission. d. of a sole proprietorship cannot be distinguished from the personal economic events of its owners. - ekly salaries of $20,000 on Friday for a five-day week ending on that day. The essary at the end of the fiscal period ending on a Thursday 15 es Expense, $16,000; credit Salaries Payable, $16,000. =es Expense,516,000; Credit Cash, $16,000 = Payable $16,000; credit Cash, $16,000, des Expense, $4.000; credit Salaries Payable, $4,000 Previous page Next page Return to: General