Bob Bertolucci, owner of Bob's Bazaar, also owns a personal residence that costs $575,000. The market value of his residence is $725,000
During preparation of the financial statements for Bob's Bazaar, the accounting principle most relevant to the presentation of Bob's home is:
A. The concept of the business entity.
B. The cost principle.
C. The going-concern assumption.
D. The objectivity principle.
A
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Indicate whether the statement is true or false