Theory Base of ...

The basis of revenue recognition often used in hire-purchase transaction is____________.

Cost concept envisages the recording of which of the following in the books of accounts?

During the financial year the plant of the company remained shut down due to major fault leading to stoppage of production for three months.The Accountant is keen to disclose this fact by way of notes to the accounts. He is guided by the concept of

Recording of capital contributed by the owner as liability ensures the adherence to principle of __________.

The entity concept of accounting is applicable to _________.

When applied to the balance sheet, the convention of conservatism results in __________.

Recording of fixed assets at cost ensures adherence to _________.

Which is the convention of accounting wherein there is no overvaluation of assets and incomes?

The Accounting Convention of Matching means __________.

Realisation concept would apply when _________.