Accounting concepts 0.0 / 5 ? Applied BusinessAccountingA2/A-levelAQA Created by: i.capocciCreated on: 20-06-16 15:18 539726148 Across 1. You can only record things which have a financial value (5, 11) 4. Must not overestimate value of business (1) only record revenue if goods paid for or exchanged (11) 5. Must not overestimate value of the business (8) 7. Only need to record assets/costs of significant value on finals account (11) 8. Drawing accounts must assumes the business will continue to trade. (5, 7) Down 2. When used something which has not been paid for (8) 3. Every transaction has a+ive and -ive effect of equal value (9) 6. Should have a uniform approach to putting accounts together (11) 9. Accounts of business owner and business should be kept seperate (8, 7)
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