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Questions and Answers
According to the business entity concept, what is the relationship between a business enterprise and its owners?
According to the business entity concept, what is the relationship between a business enterprise and its owners?
- The owners have no relationship with the business enterprise
- The owners are considered as accounting units separate from the business enterprise (correct)
- The owners' personal transactions are recorded in the books
- The owners are responsible for paying the price in cash for goods purchased or services received
Which of the following is the correct definition of a creditor?
Which of the following is the correct definition of a creditor?
- A person who does not pay the price in cash for goods purchased or services received (correct)
- A person who pays the price in cash for goods purchased or services received
- A person who is the owner of the business
- A person who records personal transactions in the books
How many questions are there in this question paper?
How many questions are there in this question paper?
- 17 (correct)
- 12
- 15
- 10
What is the time allowed for this evaluation?
What is the time allowed for this evaluation?
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How many marks are the questions numbered 13 to 15 carrying?
How many marks are the questions numbered 13 to 15 carrying?
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