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The historical cost concept implies that Select one: a. expenses incurred should be matched against revenue earned, not cash paid against cash received. O b. all transaction of a business should be recorded at their original costs. O c. the owner and the business are separate entities. O d. the business is assumed to operate on an indefinite basis. Clear my choice On 1 August 2018, Mary decided to start a sole proprietorship business with the following items: building RM400,000; motor vehicle RM160,000; fixtures and fittings RM 120,000;loan from bank RM100,000; cash at bank RM30,000. What was the amount of capital that Mary had contributed to the business? Select one: O a. RM710,000 O b. RM610,000 O c. RM810,000 O d. RM580,000 An investment by the owner of a business entity in a building, at a cost of RM100,000 with a RM40,000 outstanding loan, would Select one: O a. increase owner's equity RM100,000 O b. increase total assets RM140,000 O c. decrease liabilities RM40,000 O d. increase owner's equity RM60,000