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  • Accounting & Finance for Bankers - 1 (JAIIB)
  • Recording of capital contributed by the owner as liabilit...
Multiple choice

Recording of capital contributed by the owner as liability ensures the adherence of principle of

  1. Double Entry

  2. Going Concern

  3. Separate Entity

  4. Materiality

Reveal answer Fill a bubble to check yourself
C Correct answer
Explanation

The separate entity concept is the basic accounting concept which states that we should always separately record the transactions of a business and its owners.

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