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Accounting Equa...

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  • Question 1
    1 / -0

    Which concept is not related to identification, measurement and recording of financial transactions __________________.

  • Question 2
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    The fundamental accounting equation, Assets = Equities + Liabilities is the formal expression of ____________.

  • Question 3
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    Concepts related to income measurement and preparation of financial statements ___________.

  • Question 4
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    Double entry system was invented by __________.

  • Question 5
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    Revenue is generally recognised as being earned at that point of time when ____________.

  • Question 6
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    Money measurement concept of accounting theory is based on the assumption that the value of money will____________.

  • Question 7
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    Which of the following is/ are fundamental concepts?

  • Question 8
    1 / -0

    Match the following:

    1. Small firmsa) subsidiary books system
    2. Bigger firmsb) journal system
    3. Basis for accountingc) money measurement
    4. Balance sheetd) financial position of the business

  • Question 9
    1 / -0

    The accounting entity may be _________.

  • Question 10
    1 / -0

    The term 'Realization' implies __________.

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