Telegram group: T.me/BBCNOUN Email: bbcnoun@gmail.com Whatsapp: 08131667008 [ACC101] An owner is different from the business buttresses which of the following concepts? Entity concept [ACC101] The occurrence of losses not necessarily when cash is received or paid can best explain which of the following? Accrual concept [ACC101] Given assets as #1000,000 and liabilities as #460,000; determine the owners' capital. #540,000 [ACC101] Which of the following is used to commence accounting entries? Book keeping [ACC101] The statement Prudence [ACC101] Equity in business refers to which of the following? Ownership interest [ACC101] Which of the following instruments would you use to inform a buyer how much is owed for the goods you supplied? Invoice [ACC101] The reduction of the cost of an asset during its life span can be referred to as Depreciation [ACC101] A business is not expected to be liquidated in the foreseeable future can best define which of the following? Going concern concept [ACC101] Accounting equation is based on which of the following? Double-entry concept