Theory Base of ...

Provision for bad debts is made under the principle of_____________.

________ of accounting is followed for measuring the revenues and expenses for the period.

Recognition of expenses in the same period as associated revenues is called ________concept.

_________ postulates assume that the value of money will remain the same in different periods.

During the lifetime of an entity accounting produce financial statements in accordance with, which basic accounting concept?

The convention of conservatism will have the effect of_____________.

Market value of investments is shown as a footnote in the Balance Sheet according to________________.

A concept that a business enterprise will not be sold or liquidated in the near future is known as_______.

IFRS stands for which of the following?

Everything a firm owns, it also owns out to somebody. This co-incidence is explained by the _______ concept.