Theory Base of ...

Accounting records only those transactions and events which are of -
X. Social character
Y. Financial character
Select the correct answer from the options given below:

Which convention implies that the accounting practices should remain same from one year to another year?

______ is used by business entities for keeping records of their monetary or financial transaction.

Accounting transactions are recorded in terms of ________.

Which of the following practices is not in consonance with the convention of conservatism?

Which of the following accounting concepts or principles require the calculation of depreciation of the fixed assets?

Accounting standards are issued for the purpose of :
(a) Improving dependability of financial statements
(b) Auditing work becomes easy task for the auditor
(c) Elimination of non-comparability between financial statements 
The correct answer is :-

Non-monetary events like, death, dispute, sentiments, efficiency etc. are _______ in the books, even though these may have a great effect. 

____ period is normally adopted for accounting purpose. 

Accounting standards cover the aspects of ________ of accounting transactions in the financial statements.