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Business, 16.07.2021 17:00 Kaylenejohnson00

Stuart Allen Company manufactures computer hardware. The president of the company bought a new car as a gift for his daughter and paid for it using cash from the business. Since the company paid for the​ car, it was recorded in its books as an asset. Which of the following concepts or principles of accounting did the company​ violate? A. monetary unit assumption B. cost principle C. economic entity assumption D. going concern assumption

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