Business, 09.09.2019 22:30 live4dramaoy0yf9

Michael mcnamee is the proprietor of a property management company, apartment exchange, near the campus of penscola state college. the business has cash of $8,000 and furniture that cost $9,000 and has a market value of $13,000. the business debts include accounts payable of $6,000. michael's personal home is valued at $400,000, and his personal bank account has a balance of $1,200. identify the principle or assumption that best matches the situation:
a. michael's personal assets are not recorded on the apartment exchange's balance sheet.
b. the apartment exchange records furniture at its cost of $9,000, not its market value of $13,000.
c. the apartment exchange reports its financial statements in u. s. dollars.
d. michael expects the apartment exchange to remain in operations for the foreseeable future.

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Michael mcnamee is the proprietor of a property management company, apartment exchange, near the cam...

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