Theory Base of ...

Which accounting principle requires that life of a business be broken into smaller parts

Which is the modifying principle

According to which accounting principle personal expenses of proprietor are recorded in drawings account.

In our country ______has been empowered to formulate and issue accounting standards, that should be followed by all business concerns in India

If a firm receives an order for goods, it would not be included in the sales figure owing to the ___________.

The Prudence of Accountants states that preference should be given for error Rs.in measuring assets and recognizing revenues in the direction of understatement rather than overstatement.

The fact that a business is separate and distinguishable from its owner is best exemplified by the ___________ concept

A firm may hold stock which is heavily in demand. Consequently, the market value of this stock may be increased. Normal accounting procedure is to ignore this because of the ___________.

To promote world-wide uniformity in published accounts, the International Accounting Standards Committee (IASC) has been set up in June

IASB has adopted