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The owner of Westhampton Fish Eatery purchased a new car for his daughter who is away at college at a cost of $ 4 3
The owner of Westhampton Fish Eatery purchased a new car for his daughter who is away at college at a cost of $ and reported this amount as Delivery Vehicle in the restaurant's balance sheet. The reporting of this item in this manner violated the:
Question options:
A
Cost principle.
B
Business entity concept.
C
Objectivity principle.
D
Goingconcern assumption.
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