Cameroon GCE O-Level Accounting Practice Questions - Cameroon General Certificate Of Education Ordinary Level - Accounting Principles Of Accounts (0505) Exam

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A business owner in Douala pays his daughter's private secondary school tuition fees using cash withdrawn from the business cash till. Which accounting concept mandates that this transaction be recorded as drawings rather than an operating business expense?

Going Concern Concept Business Entity Concept Historical Cost Concept Money Measurement Concept

Correct Answer:

Business Entity Concept

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