Uneb uce accounts paper one 2017

Uneb uce accounts paper one 2017

1. Which accounting concept states that a business is expected to operate in the near future?
   A. Historical cost
   B. Going – concern
   C. Consistency
   D. Objectivity
2. Identify a current liability from the following items
   A. Commission receivable
   B. Interest receivable
   C. Subscriptions due from staff
   D. Salaries due
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