In such firms the liability of the owner is unlimited as the owner takes more risk to earn more profits and increase the volume of his business by supplying his personal assets to the business.
What is Mercantile or Accrual System of Accounting?
Can you please explain share capital & reserves and surpluses?
What is Cash System of Accounting?
What is Profitability Statement?
What is Balance Sheet?
Explain what are the various systems of Accounting?
Explain what are the different types of expenditures considered for the purpose of accounting?
Tell me about Capital Expenditure?
Explain Revenue Expenditure?
Tell us about Mercantile or Accrual System of Accounting?
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