Theory Base of ...

An old car having a book value of Rs. 50,000 on 1st April 2013 and having market value of Rs. 10,000 as on 31st March 2014 is reported in the financial statement at Rs. 10,000. The company is following ____ method of valuation.

______ is the Accounting method that recognizes the impact of transactions on the financial statements in the time periods when revenue and expenses occurs.

The accounting system that affects at least two accounts is called __________ .

_______ is subject matter of Accounting.

The system of recording of transactions based on dual aspect is called _________ .

Objective of Accounting Standards is __________________.

______ is the Accounting method that recognizes the impact of transactions on the financial statements in the time periods when cash is disbursed or received.

In India Accounting Standards are issued by _______.

Revenue is generally considered as realized ________.

Which of the following is one of the advantages of accounting standards?