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Identify the accounting principles related to the following 2 marks a Purchased 10 kg of r...........

Accountancy (11th) Chapter-2 Theory base of Accounting

Identify the accounting principles related to the following : (2 marks)

a. Purchased 10 kg of raw materials for Rs. 5,000 was entered in the books of account as Rs. 5,000.

b. Assets of business are always equal to the claims of owners and outsiders.

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