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2. Immediate effect on profit, delayed effect on cash:

  • Prepayments
  • Repaying loans
  • Credit sales
  • Unsold stock

3. Which is the following is an accounting concepts?

  • Purpose
  • Profit
  • Accruals
  • Business records

4. What is an advanatage of being a partenrships?

  • More skills and expertise
  • Unlimited liability
  • Workload isn't shared
  • Profits or debts shared

5. Which is a method of depreciation?

  • Straight-line balance
  • Reducing straight-line
  • Staright-line method
  • Reducing line
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