The separate entity assumption means:
A. each separate owner's finances must be revealed in the financial statements.
B. each separate entity that has a claim on a company's assets must be shown in the financial statements.
C. a company's financial statements reflect only the business activities of that company.
D. if the business is a sole proprietorship, the owners' personal activities are included in the company's financial statements.
Answer: C
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Historically, why were high inflation rates associated with high nominal interest rates?
A) Individuals will spend more when they expect their investments to increase in value. B) Growth in investment and savings is encouraged when consumers are judged to be overspending. C) High inflation leads to a decrease in purchasing power and thus increases the attractiveness of investment over consumption in the short term. D) The real interest rate needs to be high enough so that individuals can expect their savings to have greater purchasing power in the future than in the present.
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A) longest task time. B) shortest task time. C) average task time. D) total task time.