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Theory Base of ...

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  • Question 1
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    In accounting all business transaction are recorded as having ______________.

  • Question 2
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    The full disclosure principle, as adopted by the accounting professionals, is best described by which of the following?

  • Question 3
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    Going concern concept assumes __________________.

  • Question 4
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    The fundamental accounting equation, Assets = Equities + Liabilities is the formal expression of ____________.

  • Question 5
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    Concept of conservatism refers to taking into account ___________.

  • Question 6
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    Revenue is generally recognised as being earned at that point of time when ____________.

  • Question 7
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    Money measurement concept of accounting theory is based on the assumption that the value of money will____________.

  • Question 8
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    The cost concept records the figures at _______________.

  • Question 9
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    Which of the following is true for: -

    "In accounts recording is done of _________".

  • Question 10
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    In stock valuation, application of the principle 'at cost price or market price whichever is lower' will result in the valuation of stock sometimes at cost price and at other times at market price. This is an application of the principle of __________.

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