What is the entity concept in accounting?
Real World Money: 12 Fundamental Concepts

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Business
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6th - 9th Grade
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Hard
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1.
OPEN ENDED QUESTION
3 mins • 1 pt
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2.
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3 mins • 1 pt
Explain the money measurement principle in accounting.
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3.
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3 mins • 1 pt
What does the going concern assumption imply for a business?
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4.
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3 mins • 1 pt
Describe the cost principle and provide an example.
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5.
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3 mins • 1 pt
What is the dual aspect concept in accounting?
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6.
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3 mins • 1 pt
What role do source documents play in accounting?
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7.
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3 mins • 1 pt
What is the significance of the conservatism principle in accounting?
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