insurance paid by a business included $400 relating to the owner's private house. This amount was not included in the income statement.

Which accounting principle was applied

the ____________ convention says that the business and the owner(s) are separate, for accounting purposes

Which concept is identified by the accounting equation assets = capital + liabilities?(2 Points)

a] realisation

b] going concern

c] duality

d] business entity

Which item would result in a decrease in the expenses to revenue ratio?(2 Points)

a]the return of goods sold

b]prepayment for rent and rates

c]increase in provision for doubtful debts

d]accrual for telephone