... using borrowed money for a period of time, is referred to as: A) net income B) revenue C) liability D) interest 106 Free Test Bank for Financial Accounting 3rd Edition by Kemp Multiple Choice ... concept or principle of accounting is being violated? A) Going concern B) Objectivity C) Business entity D) Cost 106 Free Test Bank for Financial Accounting 3rd Edition by Kemp Multiple Choice Questions ... $80,000 D) $23,500 The method of accounting that recognizes a transaction when it occurs is: A) financial accounting B) cash accounting C) cost accounting D) accrual accounting When an owner combines...