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1. The amount brought in by owner of the business should be credited to? (a) Owner Equity (b) Drawing c) Cash d) All of above

Answer» MOUNT brought in by OWNER of the BUSINESS should be credited to?→ SEPARATE entity concept defines that the business and its owner are treated two separate legal entities. Owner is considered as a creditor in the books of accounts of business. Amount contributed by the owner is a liability, and it is to be credited to CAPITAL account.→ The accounting entry will be as under: Cash A/c


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