In the preparation of account, the owners of the business...
In the preparation of account, the owners of the business and the business concerned are treated as
Partners
Joint venture
The same person
Separate legal entities
Correct answer is D
The business entity concept state that business is treated as a separate entity from parties having proprietary or economic interest in it.
GH⊄ Sales 200000 Purchase 170000 ...
Use the following to answer the given question \( \begin{array}{c|c} \text{Purchases} & 2,0...
A part of public company's profits belonging to the shareholders is ...
Given: Capital at start.......................N3250 Capital at close .....................N6250 A...
In a petty cash book the imprest is N1380. Expenses: Stationery N350 Cleaning material N335 Gene...
Goods withdraw from business for private use are credited to? ...
A rent ₦12,000 was paid by Taiwo to his landlord by cheque. The double entry in Taiwo's books ...
The accounting entries for goods stolen in branch will be to debit ...