Theory Base of ...

Closing stock is valued at lower of cost or market price. Which concept of accounting is applied here

As per dual aspect concept, every business transaction has

Principle which assumes that a business enterprise will not be liquidated in the near future

Do not anticipate any profit but provide for all possible losses according to the ____

Rent for the month for the month March 2012 is not paid. Under which accounting concept it should be recorded as expense for the year ended 31st March 2012

Full form of GAAP

Full form of IASB

The ___________ Assumption of accounting states that if straight line method of depreciation is followed in one accounting year, then it should be continued in the next year also.

12 television sets of Rs.10,000 each are purchased and this event is recorded in the books with a total amount of Rs.1,20,000 is an example of

Which of the following is correct?