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.
In manufacturing account, the work-in-progress at the end of the year is ...
Use the information to answer the given question. RECEIPTS AND PAYMENTS ACCOUNT: \(\begin{array}{...
Which of the following is used before the appropriation bill is approved? ...
When goods are sold for cash the credit entry goes to the ...
Beauty started business with ₦40,000, made a profit of ₦50,000 and ended the year with ₦70,000...
What is the cardinal rule of the double entry system? ...
i. cash at bank ii. cash in hand iii. premises iv. land ...
Which of the following is not a data processing method? ...
PQ Manufacturing Company Raw materials (1/11/2001)...........N3 500 Raw materials (31/12/2001).....