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

Related MCQs

• Change in the capital A/c of proprietor may occur due to ______
• A trader has made a sale of Rs.75,500 out of which cash sales amounted to Rs.25,500. He showed trade receivables on 31-3-2014 at Rs.25,500. Which concept is followed by him?
• Business enterprise is separate from its owner according to _________ concept.
• According to the money measurement concept, the following will be recorded in the books of account of the business:
• The policy of anticipate no profit and provide for all possible losses arise due to the concept of _____
• If nothing is given in the financial statements about the three accounting assumptions then it is to be treated as it
• Double Entry System was introduced in–
• Which accounting concept satisfy the valuation criteria
• A trader purchases goods for Rs. 2500000, of these 70% of goods were sold during the year. At the end of 31st December 2009, the market value of such goods were Rs. 500000. But the trader recorded in his books for Rs. 750000. Which of the following concept is violated?
• Which accounting concept specifies the practice of crediting closing stock to the trading account?