question archive According to which concept business is treated as a unit apart from owner A
According to which concept business is treated as a unit apart from owner A
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According to which concept business is treated as a unit apart from owner A. Dual concept B. Divider concept C. Entity concept D. Landlord concept 53. The reduction in the value of the fixed assets which can arise due to time factor is A. Discount B. Depreciation C. Reduction D. None of the above 54. Which of the following should not be called sales? A. Goods sold on credit B. Office fixtures sold C. Sale of the item previously included in purchase D. Good sold for cash 55. Which of the following is not regarded as the fundamental accounting concept? A. The going concern concept B. The separate entity concept C. The prudence (conservatism) concept D. Correction concept
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