Help with basic accounting (4-12) – 3

Author: Albert

May 29th, 2022

For each of the three situations, say if the accounting method used
is correct or incorrect. If correct, identify which principle or
assumption supports the method used. If incorrect, identify which
principle or assumption has been violated.

accounting method

Principle/Assumption

Luke Witte, owner of Luke’s Photography, records his personal living costs as expenses of the business.

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