In an incomplete record, the excess of opening capital ove closing capital is 

Use the following information to answer this question

Bayo issued a credit note to Ayo who returned defective goods. Each party maintains sales ledger control account and purchases ledger control account.  

Ayo will record this transaction on the

Use the following information to answer this question

Bayo issued a credit note to Ayo who returned defective goods. Each party maintains sales ledger control account and purchases ledger control account.  

Bayo will record this transaction on the    

The concept that underlies the comparing of expenditure for a period with the revenue of same period is  

An item is classified as a current asset if it is