Accounting Equa...

Which of the following accounting equation is correct?

All transactions of a business are recorded as having a _____________.

The Entity concept of Accounting is applicable to ________________.

On sale of old equipment, owner's equity would ____________.

The comparison of one accounting period with that in the past is possible only when the concept of _______________ .

A businessman needs to know the state of affairs of his business at frequent intervals which is` normally a twelve-month period. This period is called _________ year.

Income is measured on the basis of _______________.

The policy of 'anticipate no profit and provide for all possible losses' is followed due to ____________.

Cost concept envisages the recording of the following/in the books of accounts ________________.

Assets are depreciated on the basis of expected life rather than on the basis of market value according to _____________.