Objectivity principle
Business entity principle
Question 13. Question :
Which of the following is the
primary purpose of accounting?
To establish a business
To identify, record and communicate
business transactions
To deceive stockholders
To keep from paying taxes
To establish credit for a company
Question 14. Question :
and services on credit are:
Assets created by selling goods
Accounts payable
Accounts receivable
Liabilities
Expenses