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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