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Select the most appropriate alternatives from those given below and rewrite the statement:i. _________ means a reputation of a business valued in terms of money. (a) Trademark (b) Assets(c) Patents (d) Goodwillii. According to _________ Cash flow statement is prepared and presented for the period for which the profit and loss account is prepared. (a) AS-3 (b) AS-10 (c) AS-6 (d) AS-2iii. The immediate recognition of loss is supported by principle of ________ (a) Conservatism (b) Objective (c) Matching (d) Consistencyiv. Brief explanation of an entry is called as ________ (a) Folio (b) Narration (c) Posting (d) Journalisingv. An act of exchange of things or services between the two parties is termed as ________ (a) Ledger (b) Transfer (c) Transaction (d) Business |
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Answer» i. (d) Goodwill ii. (a) AS-3 iii. (a) Conservatism iv. (b) Narration v. (c) Transaction |
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