Ted Hughes owns a plumbing business,which is run as a company called "Hughes Plumbing Pty Limited".Which one of the following is correct: A.None of the other answers are correct B.Ted Hughes and Hughes Plumbing Pty Limited are seperate legal entities from both an accounting and legal perspective C.Ted Hughes and Hughes Plumbing Pty Limited are not seperate entities,from either an accounting and legal perspective D.Ted Hughes and Hughes Plumbing Pty Limited RE separate entities from an accounting perspective,but not from a legal perspective E.Ted Hughes and Hughes Plumbing Pty Limited are separate entities from a legal perspective,but not from an accounting perspective
Ted Hughes owns a plumbing business,which is run as a company called "Hughes Plumbing Pty Limited".Which one of the following is correct: A.None of the other answers are correct B.Ted Hughes and Hughes Plumbing Pty Limited are seperate legal entities from both an accounting and legal perspective C.Ted Hughes and Hughes Plumbing Pty Limited are not seperate entities,from either an accounting and legal perspective D.Ted Hughes and Hughes Plumbing Pty Limited RE separate entities from an accounting perspective,but not from a legal perspective E.Ted Hughes and Hughes Plumbing Pty Limited are separate entities from a legal perspective,but not from an accounting perspective
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Question
Ted Hughes owns a plumbing business,which is run as a company called "Hughes Plumbing Pty Limited".Which one of the following is correct:
A.None of the other answers are correct
B.Ted Hughes and Hughes Plumbing Pty Limited are seperate legal entities from both an accounting and legal perspective
C.Ted Hughes and Hughes Plumbing Pty Limited are not seperate entities,from either an accounting and legal perspective
D.Ted Hughes and Hughes Plumbing Pty Limited RE separate entities from an accounting perspective,but not from a legal perspective
E.Ted Hughes and Hughes Plumbing Pty Limited are separate entities from a legal perspective,but not from an accounting perspective
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