when lower profits and asset valuations are estimated when in doubt the _____ principal is...
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Accounting
when lower profits and asset valuations are estimated when in doubt the _____ principal is applied a. accural b. conservatism c. materiality d. historic
The capital balance in a sole proprietorship was R800 000 on 29 Feb 2020, the end of the financial year. the net profit and drawings for the year ended 29 Feb 2020 amount to R300 000 and R100 000 respectively. The capital balance on 01 March 2019 was _____
a. 1 000 000 b. 400 000 c. 1 200 000 d. 600 000
which one of the ffg accounts appears on the credit side of a pre adjustment trial balance a. bank overdraft b. interest on loan c. debtors control d. fixed deposit
_____ are interested in the financial statements of a business entity to determine the potential for future capital growth a. shareholders b. providers of credit c. external auditors d. government tax collection agencies
which one of the ffg statements is false a. non current assets have a useful life of more than 1 year b. liabilities are claims on the assets of the organization c. equity may be viewed as the residual claim that the owners have on the assets of an organization before the liabilities have been settled. d. trade and other receivables includes the amounts owing to debtors.
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