Theory Base of ...

As per dual aspect concept, every business transaction has

To promote world-wide uniformity in published accounts, the International Accounting Standards Committee (IASC) has been set up in June

In our country ______has been empowered to formulate and issue accounting standards, that should be followed by all business concerns in India

IFRS followed by Indian Accounting are based on

IFRS are

IASB has adopted

The Prudence of Accountants states that preference should be given for error Rs.in measuring assets and recognizing revenues in the direction of understatement rather than overstatement.

Which of the following is not a concept of accounting

Rent for the month for the month March 2012 is not paid. Under which accounting concept it should be recorded as expense for the year ended 31st March 2012

An investment company has been valuing its inventory of land at lower of market price or cots. It now wants to value its inventory at current market price which is higher than the cost. Which accounting concept will be violated