Question
Please complete the following sentences with the most appropriate accounting concepts. a. Including private costs incurred in running a car-selling business would violate the ________________
Please complete the following sentences with the most appropriate accounting concepts. a. Including private costs incurred in running a car-selling business would violate the ________________ concept. b. The employees of ABC Bhd are remarkably prominent and experience. However, the account executive is unable to show this attribute in the accounting records due to the ________________ concept. c. According to the ________________ concept, the revenue is recognised when it is earned but not when it is received. For example, we record sales in the books when the transactions take place but not when we receive the actual payment. d. ________________ concept is the presumption that a business will continue to trade for the foreseeable future. e. ________________ concept implies that the company need to record transactions based on the same method, format and policies over different time period. f. A giant company owns a small amount of stationery on hand at the end of the financial year. However, the company does not make an effort to value it. This is consistent with ________________ concept.
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