A basic unifying concept in accounting implies that
...A basic unifying concept in accounting implies that
Where creditors'account is zero, the assets are equal to the owner's equity
There should be a balance in the creditors' account in order to measure total assets
Revenues should be supported by invested and owner's capital
Total assets can be less than liabilities and equity
Correct answer is A
No explanation has been provided for this answer.
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N Bank account 59,410 Capital account 50,000 Purchase account 20,000 Rent 2,500 Stationery 90 ...