Business, 28.07.2021 14:00 ReignAsrs

Ron is running a plumbing business. You tell him to keep his private expenses separate from the business expenses. Which accounting concept did you apply? Ron told you that the business is doing well because of the good location. Therefore, it should be shown as an asset. You tell him location cannot be recorded as an item in accounting records. Which accounting concept did you apply?

Define matching concept.

An investor has opened a jewellery store and a bakery shop in your village which is near sea side. Do you consider the location of the business appropriate? Give reasons and suggest better location for these businesses.

Every transaction will affect how many accounts? only one, only two or two and more

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Ron is running a plumbing business. You tell him to keep his private expenses separate from the busi...

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