Answered step by step
Verified Expert Solution
Question
1 Approved Answer
52. According to which concept business is treated as a unit apart from owner A. Dual concept B. Divider concept C. Entity concept D. Landlord
52. According to which concept business is treated as a unit apart from owner A. Dual concept B. Divider concept C. Entity concept D. Landlord concept 53. The reduction in the value of the fixed assets which can arise due to time factor is A. Discount B. Depreciation C. Reduction D. None of the above 54. Which of the following should not be called sales? A. Good sold on credit B. Office fixtures sold C. Sale of item previously included in purchase D. Good sold for cash 55. Which of the following is not regarded as the fundamental accounting concept? A. The going concern concept B. The separate entity concept C. The prudence (conservatism) concept D. Correction concept
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started