Question
Owners’ equity is shown as the liability in the
balance sheet. This is based on the accounting concept:Solution
Business entity concept is one of the accounting concepts that states that business and the owner are two separate entities and therefore, should be considered separate from each other. As per this concept, the financial transactions pertaining to the business entity should be recorded separately from the business owners transactions.
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LT6, KU12, IW24, FZ48, ____ - A series is given with one term missing. Choose the correct alternatives from the given ones that will complete the series.
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17, 18, 22, 31, 47, ___
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