The concept which states that the affairs of a business i...
The concept which states that the affairs of a business is to be treated as being separate from the private activities of the owner is
Realization concept
Business entity concept
Cost concept
Dual aspect concept
Correct answer is B
The business entity concept states that the transactions associated with a businessmust be separately recorded from those of its owners or other businesses.
\(\begin{array}{c|c} & N \\ \hline \text{Debtors (1/1/98)} & 2,000 \\ \text{Debtors (31/12/9...
........................1/7/2005............30/6/2006 Drawings......................................
The sales day book will show goods sold ...
\(\begin{array}{c|c} & Le \\ \hline \\ \text{Fines} & 20,000\\ \text{Market rates} & 120...
The fund in which all government receipt are paid is? ...
The measure of a company's ability to pays its debts quickly is called ...