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a. decreased cash and increased expenses b. increased a liability account and increased liabilities c. increased assets and increased owners’ equity d. is not a transaction recognized by the business
answer D
Big Yes for (( D )) beacuse the transaction in whole is personal and not to related to the company either in direct or in-direct way.
D is the Answer,Which is not related to busines
is not a transaction recognizedby the business according to business entity convention business is treated as a seperate entity from its owners
This is not related to the business transaction as it is totally personal . Owner has used his personal account to purchase personal things. So D is the right answer.
Answer: D
Joshi Mathew
CIA
D. Applying the entity concept in accounting wherein the personal transactions of the owner is different from the transaction of the business. The business has given its own personality separate and distinct from the owner. The said transaction has nothing to do with the business, hence should not be recorded from the Company's book of accounts.
d
D
is not a transaction recognized by the business
