Theory Base of ...

The fundamental accounting equation "Total Assets = Total Liabilities" is the formal expression of ____________.

Concept of conservatism refers to taking into account ______________.

Accounting Standard Board was set up by __________.

As per $$AS - 2$$, inventory is to be valued at _______________.

Money measurement concept of accounting theory is used only when transactions can be expressed in terms of __________.

Concept of realisation implies accounting should be done when _________.`

Accounting records transactions in terms of __________.

In reference to the accounting standards, choose the correct statement _______________________.

The application of principle 'for stock valuation at cost price or market price, whichever is lower' will result in the valuation of stock sometimes at cost price and at other times at market price which is an application of the principle of ____________.

Valuation of inventory is dealt with in ______.