Accounting Equa...

American accountants have derived the rules of debit and credit through ________.

The basis for the accounting equation is the principle of _________.

Conservatism is a ___________.

"Holding gains in relation to stocks should not be used for payment of dividend." which one of the following accounting principles is involved in this?

According to accounting equation concept, every business transaction recorded in accounts has two aspects. Which are these two aspects?

X started business with a capital of Rs. 20,000 and purchased goods worth Rs. 2,000 on credit. These transactions may be expressed in the from of 'Accounting equation' such as_________________.

The test of materiality can be applied to three aspects:
Which is incorrect?

Materiality means __________.

In financial statements, adequate disclosure is ensured by companies as per the requirements of.
I. Management policies
II. Materiality concept
III. Disclosure concept
IV. Relevant provision of the Companies Act
V. Internal control
Of these statements.

Which of the following is 'true' regarding the Prudence Principle of Accounting?