Theory Base of ...

Provisions for bad not doubtful debts is created in anticipation of actual bad debts on the basis of _______________.

Insignificant events are not recorded in the books of accounts due to ______________.

According to which of the following concepts, fixed assets are depreciated over their useful life rather than over a shorter period on the expectation of early liquidation?

All transactions of a business are recorded as having a _____________.

The Entity concept of Accounting is applicable to ________________.

The comparison of one accounting period with that in the past is possible only when the concept of _______________ .

A businessman needs to know the state of affairs of his business at frequent intervals which is` normally a twelve-month period. This period is called _________ year.

Income is measured on the basis of _______________.

The policy of 'anticipate no profit and provide for all possible losses' is followed due to ____________.

Accounting Standard Board was set up by __________________.