Accounting · Accounting Principles and Basic Terms
Which of the following statements are true? 1. Prepaid rent is a Representative Personal Account. 2. Interest on Drawings is an income for the business. 3. Accrued income and income due but not received mean the same. 4. Cost of obtaining a license to carry out business is a capital expenditure.
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 11, 2, 3 and 4✓
- 2Only 1, 2 and 4
- 3Only 2 and 3
- 4Only 1 and 2
Correct answer
1, 2, 3 and 4
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