Related InterviewSolutions

• Adjustments are made for incomes received in advance based on ……………… principle.(a) Matching cost with revenue(b) Cost(c) Prudence(d) Full disclosure
• According to ………………………. concept, in addition to book value of investment in listed shares, the market value thereof is also shown as additional information in financial statements.(a) Dual aspect(b) Full disclosure(c) Cost(d) Going concern
• Due to the concept of ……………………. provision for doubtful debts on debtors is made in the accounts.(a) Prudence(b) Periodicity(c) Verifiability(d) Revenue recognition
• Pre-paid expenses should be carried forward on the basis of concept of ………………… .(a) Conservatism(b) Consistency(c) Dual aspect(d) Matching cost with revenue
• What is assumed in going concern concept?
• For accounting, what is accepted as common measurement unit?
• According to which principle, every business transaction has a two-fold effect?
• How is the prudence concept also referred to as?
• What does the principle of consistency suggest?
• What does the money measurement concept suggest?