“Business unit separate and distinct from the owner of it ”,is based on:

Related MCQs

• ……………….. refers the amount invested by the owner into business.
• Select correct journal entry to rectify an error “An amount of 10,000, withdrawn by owner for personal use debited to Trade Expenses Account”. Debit Credit
• Which of the following account(s) is (are) maintained in the joint venture when separate set of books are maintained?
• Any revenue expense for which a separate fund is available will be
• Goods taken from business for personal use by the proprietor should be credited to
• A withdrawal of cash from business by the proprietor should be credited to
• Which one of the following is not the feature of a joint venture business?
• Del Credere Commission in consignment business is generally payable on
• A withdrawal of cash from the business by the proprietor should be Credited to:
• Interest on drawings is …………………………….. for the business.3