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Teaching Accountancy Introduction to Accounting Question Bank MCQ - Accounting

  • question_answer
    Which of the following statements is/are correct?

    A)  Dual aspect concept assumes an indefinite life of the entity

    B)                     In accounting, accrual basis is used for recording of transactions

    C)                     Both (a) and (b)

    D)                     None of the above

    Correct Answer: B

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