Theory Base of ...

What is the maximum rate prescribed under CGST?

Commercial accounting is based on ________________.

Which one of the following is not an accounting convention?

The cost of three small files (of Rs. 4 each) was charged to expenses when purchased even though they had a useful life of several years. This was done according to the concept of __________.

Cost of asset should always be equal to the cost of the liabilities. This concept is _________________.

Concept of Realisation implies _____________.

Land was reported at its selling price which is substantially higher than its cost. The increase in value was included in the income statement, which accounting principle is violated?

The convention of conservation is applicable in ____________.

LIFO inventory method was used in year I, FIFO in year II and weighted average in year III. Which accounting principle is violated?

Window dressing is prohibited due to __________.