The concept of the accounting entity often is considered to be the most fundamental of accounting concepts, one that pervades all of accounting. Required: 1. What is a reporting entity? Explain why the reporting entity concept is so fundamental that it pervades all of accounting. 2. For each of the following, indicate whether the accounting concept of reporting entity can be applied. Discuss and give illustrations. a. a unit created by or under law b. the product-line operating segment of an enterprise c. a combination of legal units and/or product-line operating segments d. all of the activities of an owner of a company e. an industry f. the economy of the United States

Select the correct text in the passage. which sentences in the given passage explains the limitations of monetary policies? monetary policies - limitationsmonetary policies are set by the central bank to bring about growth in the economy. de can be achieved these policiesw at anden i sca poit would be fair to say that changes in the economy cannot be brought about instantly by monetary po des. monetary policy can only influence not control, economic growththe monetary policy makers do work on sining the perfect balance between demand and supply of money in the economy

James albemarle created a trust fund at the beginning of 2016. the income from this fund will go to his son edward. when edward reaches the age of 25, the principal of the fund will be conveyed to united charities of cleveland. mr. albemarle specified that 75 percent of trustee fees are to be paid from principal. terry jones, cpa, is the trustee. james albemarle transferred cash of $500,000, stocks worth $400,000, and rental property valued at $250,000 to the trustee of this fund. immediately invested cash of $360,000 in bonds issued by the u. s. government. commissions of $7,900 are paid on this transaction. incurred permanent repairs of $9,000 so that the property can be rented. payment is made immediately. received dividends of $8,000. of this amount, $3,000 had been declared prior to the creation of the trust fund. paid insurance expense of $4,000 on the rental property. received rental income of $10,000. paid $8,000 from the trust for trustee services rendered. conveyed cash of $7,000 to edward albemarle.

An instance where sellers should work to keep relationships with customers is when they instance where selllars should work to keep relationships with customers is when they feel that the product