The accounting concept underlying the treatment of person...
The accounting concept underlying the treatment of personal expenses of the business owner as drawing is
Periodicity
Accrual
Entity
Materiality
Correct answer is C
The business entity concept states that the transactions associated with a business must be separately recorded from those of its owners or other businesses.
Goods worth N300 was transferred from department Q to P Similarly, P's total expenses for the pe...
\(\begin{array}{c|c} & \text{1st Jan.} & \text{31st Dec.} \\ & ₦ & ₦ \\ creditor...
\(\begin{array}{c|c} & N \\ \hline Sales & 200,000 \\ \text{Opening Stock} & 20,000 \\ p...
Calculate the cost of goods sold. ...
As evidence of payment to a government ministry, the revenue collector issue ...
The distributable profit available to shareholders at the end of each year is the ...
A business transaction is recorded in the books of account when the ...