Transactions and events that cannot be measured in money terms are not recorded in the books of accounts. It is due to Money Measurement Concept.

The system of recording transactions based on Dual Aspect Concept is known as ______.

The proprietor is treated as a creditor to the extent of his capital according to:

The rule “Debit all expenses and losses and credit all gains and incomes” is applicable to Personal Account

The debit balance of a personal account shows ______.