Name the accounting principle applied in each of the following: Principle Rent for business premises relating to
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Name the accounting principle applied in each of the following:
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Principle Rent for business premises relating to 20-9 was not included in the income statement for 20-8. Credit sales were recorded when the goods were dispatched (sent), not When the customer placed the order. The value of the assets of a business was not reduced when the manager of the business retired. Cash purchases were debited to the purchases account and credited to the cash account.
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1 Accrual Principle 2 Matching Principle 3 Going Concern Principle 4 D...View the full answer
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Related Book For
Cambridge IGCSE And O Level Accounting Coursebook
ISBN: 9781316502778
2nd Edition
Authors: Catherine Coucom
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