6. The concept that argues that business has an identity of its own is called...

• Group of answer choices
• Money Measurement Concept
• Separate Entity Concept
• Going Concern Concept
• Accrual Concept

7. The principles that argue that accountants must be free from any bias and act as per the proof available is called...

• Group of answer choices
• Verifiable objective evidence principle
• Matching principle
• Dual aspect principle
• Principle of full disclosure

8. Which financial statement is prepared to explain the changes in the capital?

• Group of answer choices
• Statement of changes in owner's equity
• Statement of cash flows
• Income statement
• Balance sheet

9. The statement prepared to explain the net increase or decrease in the cash resources of the organization is called?

• Group of answer choices
• Statement of changes in owner's equity
• Balance sheet
• Statement of cash flows
• Income statement

10. John paid AED 10,000 to Goldman Incorporation in cash, in this transaction John will be.

• Group of answer choices
• credited
• debited
• will remain unchanged
• none of the above