“Do not anticipate any profit but provide for all losses” the statement justify the ______________ concept.

The fact that a business is separate and distinguishable from its owner is best exemplified by the ___________concept.

Fixed assets are recorded at cost without considering the market price (whether low or high) under ________ concept.

According to _________ concept, all expenses incurred to earn revenue of a particular period should be charged against that revenue to determine the net income.

Only cash transactions are recorded in _______ basis of accounting.