Accounting Equa...

______ is used by business entities for keeping records of their monetary or financial transaction.

Book value & Market value of machinery on 31.3.2019 was Rs.1,00,000 & Rs.1,10,000 respectively. As on 31.3.2019, if the company values the machinery at Rs. 1,10,000, which of the following principle is not being followed _________________.

As per _____ concepts in order to determine the profit earned or loss suffered by the business in a particular defined accounting period, it is necessary that expenses of the period should be matched with the revenues of that period.

The value of human resources is generally not shown in the Balance Sheet as per _______________.

Materiality in accounting is decided __________________.

Land on lease should be shown in balance sheet contrary to fact that company doesn't own this piece of land. This is the statement of what accounting concepts?

Capital is the __________________.

Which accounting principle is followed in adopting accounting policy of treating the cost of calculator as an expense ?

Which of the following accounting equation is correct?

A cooperative store having a turnover of Rs 10 lakh and profit of Rs 50,000 purchased locks costing Rs 12,000 for use in the shop. The accountant charged it in the P & L A/c or current year but auditor raised an objection saying that it should be capitalised. On which one of the following conventions could the accountant be defended?