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Commerce Accounting Difficulty: Medium

An expenditure whose benefit is finished or enjoyed immediately is called

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Under which of the following categories, a partner of partnership firm will be assessed? Match the items of List-I with the items of List-II and select the correct answer: List-I List-II a. Liquidity risk 1. Risk related to purchasing power of income b. Business risk 2. Risk related to firm's capital structure c. Financial risk 3. Risk related to inability to pay its dues on time d. Inflation risk 4. Risk related to fluctuation in profits The basic objective of playing regulatory role by government is to: Planning and control are _________ functions of an office. Which of the following can be accepted as a supporting document?