ASSEB Higher Secondary Accountancy Practice Questions - Assam ASSEB Higher Secondary Accountancy Examination (Class 11 & 12) Exam

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A sole proprietor withdraws ₹50,000 in cash from the business bank account for personal household expenses. Which accounting concept mandates treating this withdrawal as 'Drawings' rather than a business expense?

Dual aspect concept Matching concept Business entity concept Money measurement concept

Correct Answer:

Business entity concept

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