Theory Base of ...

Valuing the stock in trade at market price or cost price, whichever is less, is an example of the convention of ___________.

Which of the following is correct is respect of accounting?

The determination of expenses for an accounting period is based on the principle of _______________.

Cash basis considers the revenue as realised when ____________.

Accounting is concerned with _____________.

Which of the following will be recorded in the books of accounts on the basis of cost concept?

According to going concern, a business is viewed having ______________.

Sales basis considers the revenue as earned when ___________.

The principle that an accountant should not anticipate profits, but must provide for all losses is known as _____________.

Transactions and events not capable of being expressed in terms of money are not to be recorded in accounting due to __________.