1 7 Accounting Principles, Concepts and Assumptions Financial and Managerial Accounting

No Comments 03 October 2020

The economic entity establishes the farm business as a separate entity from the owners and stakeholders. This is a challenging assumption given the ties between the farm and the operator. For example, most operators live on the farm and drive business vehicles as their own personal vehicles. Adherence to this rule would not result in […]

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