Question

Que. 17. State with reason whether the following statements are True or False
(a) The essence of Conservatism Principal is to anticipate no profit and provide for all losses.
(b) Accounting Entity Concept is not applicable to sole trading concern and partnership concem.
(c) According to Cost Concept an asset is recorded at the current market value.
(d) According to Accrual Assumption, a transaction is recorded in the books when it is entered into and oor
when the settlement takes place
(e) Financial sutements should disclose all significant information
(Owner's capital is not a liability to the firm)​

Answer 1

Answer:

Please give me some time for answer

Explanation:

Ok