Every economic unit, regardless of its legal form of exis...
Every economic unit, regardless of its legal form of existence, is treated as a separate entity from parties having economic interest is
Realisation concept
Entity concept
Going concern concept
Matching concept
Correct answer is B
The entity concept ensures that only the expenses incurred by/for the business, incomes earned by the business, assets acquired for the business and liabilities owed by the business are respectively recorded as expenses, incomes, assets and liabilities in the books of the business.
A three column cash book contains column for ...
The financial statement which is an expression of the accounting equation is the ...
Which of the following transactions is posted to the nominal ledger? ...
One of the objective of maintaining the account of a branch at the head office is to ...