Every economic unit, regardless of its legal form of exis...
Every economic unit, regardless of its legal form of existence, is treated as a separate entity from parties having economic interest is
Realisation concept
Entity concept
Going concern concept
Matching concept
Correct answer is B
The entity concept ensures that only the expenses incurred by/for the business, incomes earned by the business, assets acquired for the business and liabilities owed by the business are respectively recorded as expenses, incomes, assets and liabilities in the books of the business.
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The instrument isued by the Minister who authorized an officer to incure expenditure is a/an ...
\(\begin{array}{c|c} Capital & Le \\ \hline Aye & 20,000\\ Bee & 30,000\\ Drawings &...
ln a not-for-profit organization, the accumulated fund is ...
The accumulated fund of a non-trading concern can equally be referred to as? ...