Which is refers to a business enterprises, whether for profit or not for profit motive?
Economic events
Identification
Organisation
Interested users of information
A_______ would most likely use an entities financial report to determine whether or not the business entity is eligible for a loan.
Debtor
Creditor
Owner
Trader
Decrease in the value of an asset on account of asset used in the business is
Income
Expenses
Stock
Gain
Assets acquired with the intention of converting into cash
Fixed assets
Current assets
Intangible assets
Wasting assets
Creditors is an example of ______________ liabilities.
Long term
Short term
Fixed
None of these
___________helps us to know the true and correct financial position of its business at any time.
Accounting
Book keeping
All of these
A person who is entitled to get money from the business is termed as a
__________ assets are valued at cost less depreciation.
Current
Wasting
Intangible
___________assets are those which are acquired for relatively long periods for carrying on the business.
Which one is the gross receipts which increases capital on one hand and also assets on other hand.
Revenue
Expenditure