Accounting Equa...

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

Monthly and quarterly time periods are called ______________.

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?

Mohan purchased a machinery amounting Rs.10,000 on 1.4.2010.
On 31.3.2019, similar machinery could be purchased for Rs.20,000 but the realizable value of the machinery (purchased on 1.4.2010) was estimated at Rs.15,000. The present discounted value of the future net cash inflows that the machinery was expected to generate in the normal course of business, was calculated as Rs 12,000.
The historical cost of machinery is ____________.

A specific accounting policy refers to _______________.

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

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:

The notion that the life of a business is divisible into equal time periods of equal length is known as the _______________.