The concept which states that the affairs of a business i...
The concept which states that the affairs of a business is to be treated as being separate from the private activities of the owner is
Realization concept
Business entity concept
Cost concept
Dual aspect concept
Correct answer is B
The business entity concept states that the transactions associated with a businessmust be separately recorded from those of its owners or other businesses.
Opening stock Purchases Sales Closing Stocks ₦ 20,000 70,...
Which of the following is accounted for in receipts and payments account? ...
Retained profits is an example of ...
What is the amount of capital employed? ...
Lighting..................N2925 Rent......................N2640 Salary....................N4050 ...
\(\begin{array}{c|c} & Ade(N) & Bola(N) \\ \hline Capital & 40,000 & 30,000 \\ \hlin...
The instrument isued by the Minister who authorized an officer to incure expenditure is a/an ...