Accounting Equa...

Going concern concept assumes __________________.

Business entity concept distinguishes between ________________.

Accounting concepts are based on ___________________.

Concept of conservatism refers to taking into account ___________.

Which of the following, equations properly represents a derivation of the fundamental accounting equation?
(a) Assets + Liabilities = Owner Equity
(b) Asset = Owner Equity
(c) Cash = Assets
(d) Assets - Liabilities = Owner Equity

The cost concept records the figures at _______________.

Which of the following is true for: -

In accounting all business transaction are recorded as having ______________.

In stock valuation, application of the principle 'at cost price or market price whichever is lower' will result in the valuation of stock sometimes at cost price and at other times at market price. This is an application of the principle of __________.

The full disclosure principle, as adopted by the accounting professionals, is best described by which of the following?