Theory Base of ...

IASB has adopted:

Accrual accounting is based on which principle?

Closing stock is valued at lower of cost or market price. Which concept of accounting is applied here?

As per dual aspect concept, every business transaction has:

Principle which assumes that a business enterprise will not be liquidated in the near future:

Do not anticipate any profit but provide for all possible losses according to the _________.

Rent 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?

Full form of GAAP:

Full form of IASB:

The ___________ Assumption of accounting states that if straight line method of depreciation is followed in one accounting year, then it should be continued in the next year also.