Page No. 10
The concept of 'separate entity' is applicable to which of the following types of businesses?
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The accrual basis of accounting records revenues when they are
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In balance sheet, fixed assets are shown at
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A decrease in value of a fixed asset due to age, wear and tear is known as
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The assets which have a limited useful life are termed as
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What is nature of Capital account?
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An expenditure whose benefit is finished or enjoyed immediately is called
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Outsider's claim against the assets of the business is called
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