The accounting concept underlying the treatment of person...
The accounting concept underlying the treatment of personal expenses of the business owner as drawing is
Periodicity
Accrual
Entity
Materiality
Correct answer is C
The business entity concept states that the transactions associated with a business must be separately recorded from those of its owners or other businesses.
Given: Calculate the surplus income. ...
A rent of ₦50,000 was paid by samson to his landlady by cheque. The double entry in Samson's b...
Opening stock ₦ Department A B 100 800 ...
The process whereby a cheque received by one person is given to another is known as? ...
A business operates on a mark-up of 25%. If cost of goods sold is N800,000. What is the profit? ...
The accounting concept that states that a firm's financial affairs must be separated from that o...
The concept which underlines double entry bookkeeping is ...
Social Club Subscription (Extract) 31/12/2009 Subscription accrued #18,900 Subscription received...