Tag: need and basic principles of accounting
Questions Related to need and basic principles of accounting
Which of the following is not valuation principle?
Accounting Principle is general law or rule followed in the preparation of financial statements.
In cash accounting system __________________________.
The characteristic feature of dual aspect concept of accounting is?
Which of the following statements is correct?
Select the odd one in relation to users of accounting information's.
Accounts which represent a certain person or group of persons are termed as ___________________.
A change in accounting policy is justified ______________________.
All of the following are limitations of Accounting Standards except ______________________.
Mr. Nachiket, owner of Furniture Shop, owns a personal residence that cost Rs. 6,00,000, but has a market value of Rs.9,00,000. During preparation of the financial statement for the business, the entire value of property was ignored and was not shown in the financial statements. The principle that was followed was _________________.