Multiple choice

According to which concept of accounting, the goods withdrawan by the proprietor should be recorded as drawings of the business?

  1. Accounting period concept

  2. Going concern concept

  3. Dual concept

  4. Business entity concept
Reveal answer Fill a bubble to check yourself
D Correct answer
Explanation

According to this concept the business and businessman should be taken as two separarte entities and thus goods withdrawan by proprietor should be recorded as drawings in the books.

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