Revenue Expenditures areSelect one:O a. Expenses related to Business OperationO b. None of the theseO c. Have no direct effect on profitO d. Expenses incurred when purchasing non-current assets Which of the following concept states that "an asset isrecorded in the books of account at the cost at whichit is purchased"Select one:a. Dual AspectO b. Going Concernc. none of the optionsO d. Historical cost

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Revenue Expenditures are Select one: O a. Expenses related to Business Operation O b. None of the these O c. Have no direct effect on profit O d. Expenses incurred when purchasing non- Current assets

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Question

Revenue Expenditures are
Select one:
O a. Expenses related to Business Operation
O b. None of the these
O c. Have no direct effect on profit
O d. Expenses incurred when purchasing non-
current assets

Which of the following concept states that "an asset is
recorded in the books of account at the cost at which
it is purchased"
Select one:
a. Dual Aspect
O b. Going Concern
c. none of the options
O d. Historical cost

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