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The separate entity assumption requires that: a) the results of business activities are reported in an appropriate monetary unit. b) financial information can be compared
The separate entity assumption requires that:
a) | the results of business activities are reported in an appropriate monetary unit. | |
b) | financial information can be compared across businesses because similar accounting methods have been applied. | |
c) | financial information depicts the economic substance of the business activities. | |
d) | financial reports of a business are assumed to include the results of only that business's activities. |
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