1. What are the two basic accounting concepts which apply to all business accounts?
- Profit and loss
- Business entity and Money measurement
- Purchase and Sales
- Time and patience
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Other questions in this quiz
2. The set of double-entry accounts of a business is called the...?
3. What is accouting known as?
- The way to find out a profit
- The language of business
- Numbers and stuff
- The language of love
4. State a purpose of accouting (do 2 more if you can)
- To employ more people to make the business bigger
- To asses a business
- To make money
- To add numbers
5. If Liability= £2560 and Assets=£9852, what does capital equal?
- Capital can't be worked out like this