Theory Base of ...

According to Revenue Recognition Concept of accounting we do not record:

IFRS followed by Indian Accounting are based on

According to companies act 1956 all companies are required to maintain their accounts according to

Which statements are drawn to provide information about growth or decline of business activities over a period of time or comparison of the results, i.e. intra-firm or inter firm comparisons

As per the business entity assumption, the business is different from the

______ implies that accounting practices once selected and adopted should be applied consistently year after year

Money measurement concept ignores the recording of

Which is the modifying principle

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

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.

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

IASB has adopted

As per dual aspect concept, every business transaction has

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

Which of the following is correct?

Revenue and expenses are recorded only when they are recognized as per the ____ Accounting.

IFRS are

Market value of an asset is ______ and is ______ in the balance sheet as these assets are not going to be sold in near future

Which statement is false regarding conservatism principle

Outstanding expenses are not recorded in ________ accounting.

According to Business Entity Concept

An investment company has been valuing its inventory of land at lower of market price or cots. It now wants to value its inventory at current market price which is higher than the cost. Which accounting concept will be violated

Under which system of accounting transactions is recorded in the books of accounts on the receipt/payment of cash

Which of the following is not a concept of accounting

______________ are written statements issued from time to time by institutions of accounting professionals, specifying uniform rules for drawing the financial statements