Capital contributed by owner is liability for the business organization. This follows from (a) Going concern concept

Question:

Capital contributed by owner is liability for the business organization. This follows from
(a) Going concern concept
(b) Separate accounting entity concept
(c) Accounting prudence
(d) All of these

Fantastic news! We've Found the answer you've been seeking!

Step by Step Answer:

Related Book For book-img-for-question

Financial Accounting

ISBN: 9780071078023

1st Edition

Authors: Dhanesh K. Khatri

See More Books

Question Posted: Dec 13, 2023 12:23 PM

See More Questions

Read the case study "Southwest Airlines," found in Part 2 of your textbook. Review the "Guide to Case Analysis" found on pp. CA1 - CA11 of your textbook. (This guide follows the last case in the...
Emily Jackson (Social Security number 765-12-4326) and James Stewart (Social Security number 466-74-9932) are partners in a partnership that owns and operates a barber shop. The partnership's first...
The following additional information is available for the Dr. Ivan and Irene Incisor family from Chapters 1-5. Ivan's grandfather died and left a portfolio of municipal bonds. In 2012, they pay Ivan...
How do the Uniform Trade Secrets Act (UTSA) and the Economic Espionage Act of 1996 differ? Why don't these acts always provide a sufficient remedy for the theft of trade secrets?
A multimeter in an RL circuit records an rms current of 0.500 A and a 60.0-Hz rms generator voltage of 104 V. A wattmeter shows that the average power delivered to the resistor is 10.0 W. Determine...
The rod is attached to smooth collars A and B at its ends using ball-and-socket joints. At the instant shown, A is moving with speed v A and is decelerating at the rate a A . Determine the...
Write the different methods of power transmission?
A project in its 26th week has an actual cost of $270,000. It was scheduled to have spent $261,000. For the work performed to date, the budgeted value is $272,000. What are the cost and schedule...
Question 2 ( 2 points ) Barnes Corp. issues $ 8 0 0 , 0 0 0 of 9 % , 2 0 - year bonds. The bonds are dated January 1 , 2 0 1 1 , and are due in 2 0 years on January 1 , 2 0 3 1 . Interest is paid...
Equity shareholders are the real owners of a limited liability company but they have (a) Residual claim on the earning and assets (b) First and assured claim on the earning and assets (c) Claim...
Fixed assets are always shown in the financial statement at (a) Cost only (b) Realizable value (c) Cost less depreciation (d) Fair value
The Earned Income Tax Credit (EITC) provides a cash subsidy for every $1 earned by those with incomes below $33,700 per year. How might the EITC raise an individual's overall work eort? How might the...
Identify the limitations that may be imposed in a variable interest entity. how these limitation be imposed?
My team - Director Nominated supervisor Educational leader Two room leaders 1 educator 4 trainee's Question Describe the structure of the team in your service. (e.g. Director/manager, administrative...
Datermine the budgeted manufacturing cost for a production level of 14,000 units Variable Cost per Unit Fixed Cost per Month Direct Material $7.00 Supervisory Salaries $17,000 Direct Labor $3.50...
discusses the following questions through your research and analysis on the effect of the rule of law and ethics on the economy in Australia . 1. Using Australia and socioeconomic problems (high...
Calculate the markup percentage on the following order placed by the women's department: 10 dozen earrings costing $60 per dozen to retail for $12 each. 1500 sweaters costing $25 each to retail for...
Darwin, Inc., provided the following information for a production factor: Budgeted production ......... 10,000 units Actual production ........... 9,500 units Budgeted input ............ 9,750...
Tell whether the angles or sides are corresponding angles, corresponding sides, or neither. AC and JK
1. Prove De Morgan's laws: Let A, B X . Show: (a) X\ ( A B ) = ( X\A ) ( X\B ). (b) X\ ( A B ) = ( X\A ) ( X\A ). 2. A box has 4 coins in it. One is red on both sides, one is blue on both sides, and...
Consider the following. (If an answer does not exist, enter DNE.) f(x) = xex (a) Find the interval(s) on which f is increasing. (Enter your answer using interval notation.) x (b) Find the interval(s)...
Perform the indicated operations. Let k be a natural number. (a) (-1)8 1 (b) (-1)69 -1 (c) (-1)2013 -1 (d) (-1)2k (e) (-1)2k+ (f) (-1)2k-1

Capital contributed by owner is liability for the business organization. This follows from (a) Going concern concept

Question:

Step by Step Answer:

b Separ...View the full answer

Financial Accounting

Students also viewed these Business questions