QUESTION TWO ACCOUNTING THEORY 12 MARKS Geraldine runs a business from her home as a sole trader. She sells clothes she makes on-line and has one employee. She has called her business The Clothes Horse. tttttttttt 4 The Clothes Horse has bought some new furniture. The accountant will record the purchase of the furniture at the price the business paid for it. Name the accounting concept being applied. (1 mark)