Betsy Carter owns a small dry cleaning business. During October, she paid for her family's groceries and her home utility bill using her company's checking account. She records these transactions as Miscellaneous Expenses for her business. Which accounting assumption/principle is Betsy violating?

Bartlett Company purchased equipment on January 1, 2014, at a total invoice cost of $400,000. The equipment has an estimated salvage value of $10,000 and an estimated useful life of 5 years. The amount of accumulated depreciation at December 31, 2015, if the straight-line method of depreciation is used, is

A. $78,000 B. $160,000 C. $80,000 D. $156,000

The barrier to selling books online, either hardcopy or electronic, is technical and not financial

Indicate whether the statement is true or false