The proprietor of the business is treated as creditor for the capital introduced by him due to_____ concept.

Related MCQs

• According to which concept, the proprietor pays interest on drawings
• Value of goods withdrawn by the proprietor for his personal use should be credited to ____
• Business enterprise is separate from its owner according to _____ concept.
• The policy of anticipate no profit and provide for all possible losses arise due to the concept of _____
• Any partner who investments in the business but does not take active part in the business is:
• Under the stock and debtor system, Branch A/c is treated as ______
• Mr. X sold goods to Mr. Y ask Mr. X to keep the goods with him for some time
• Value of goodwill agreed upon Rs. 30000 on C, S admission and allowing him ¼ share of total profit Goodwill is brought in cash, the amount of goodwill be as:
• Which accounting concept specifies the practice of crediting closing stock to the trading account?
• Human resources will not appear in the balance sheet according to ______ concept.