基础会计英文版复习参考题.pdfVIP

1. A business entity is regarded as separate from the personal activities of its owners whether it is a sole proprietorship, a partnership, or a corporation. True False 2. Assets need not always have physical characteristics such as buildings, machinery or inventory. True False 3. The going concern principle assumes that the business will continue indefinitely. True False 4. Notes payable and accounts payable are written promises to pay an amount owed by a certain date. Notes payable generally have interest but accounts payable generally do not. True False 5. A net pro