Lorna Smith decided to start her own CPA practice as a professional corporation, Smith CPA PC. Her corporation purchased an office building for $35,000 that her real estate agent said was worth $50,000 in the current market
The corporation recorded the building as a $50,000 asset because Lorna believes that is the real value of the building. Which of the following concepts or principles of accounting is being violated?
A) cost principle
B) economic entity assumption
C) monetary unit assumption
D) going concern assumption
A
Business
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The organization structure best suited to gaining the advantage of specialization is ____ departmentalization.
a. functional b. geographic c. product d. matrix
Business
Compare and contrast the three types of project management offices with regards to place in organization, function, and effectiveness in project management
What will be an ideal response?
Business