Answer to Question #86104 in Marketing for Joshua

Question #86104
1.Which of the following concepts distinguishes a business from the owner?
(a)Entity concept
(b)Going concern concept
(c)Accrual concept
(d)Cost concept

2.The caption "anticipate no profit but provide for all possible losses" describes which of the following conventions?
(a)Full disclosure
(b)Materiality
(c)Prudence
(d)Entity

3.The cost of an asset is systematically reduced during its life span by a process often referred to as
(a)Depreciation
(b)Amortisation
(c)Appreciation
(d)Accretion

4.Which of the following is an introductory segment of accounting?
(a)Ledger
(b)Trial balance
(c)Book keeping
(d)Suspense account

5.Which of the following concepts explains the occurrence of losses not necessarily when cash is received or paid?
(a)Entity concept
(b)Going concern concept
(c)Accrual concept
(d)Cost concept

6.Given assets as #100,000 and liabilities as #40,000; determine the owners capital.
(a)#140,000
(b)#100,000
(c)#60,000
(d)#40,000
1
Expert's answer
2019-03-11T06:58:53-0400
Dear Joshua, your question requires a lot of work, which neither of our experts is ready to perform for free. We advise you to convert it to a fully qualified order and we will try to help you. Please click the link below to proceed: Submit order

Need a fast expert's response?

Submit order

and get a quick answer at the best price

for any assignment or question with DETAILED EXPLANATIONS!

Comments

No comments. Be the first!

Leave a comment

LATEST TUTORIALS
New on Blog
APPROVED BY CLIENTS