Question 1

Trading account is a

Accepted Answer

A) personal account 
B) real account 
C) nominal account 
D) representative personal account 
A) personal account 
B) real account 
C) nominal account 
D) representative personal account

Question 2

While putting the value or price of an entity in financial records the lowest price is recorded not the current price or current market value. This is known as

Accepted Answer

A) business entity concept 
B) conservatism 
C) cost concept 
D) money measurement concept 
A) business entity concept 
B) conservatism 
C) cost concept 
D) money measurement concept

Question 3

Amount spent to increasing the earning capacity is a ______ expenditure

Accepted Answer

A) capital 
B) revenue 
C) deferred revenue 
D) capital loss 
A) capital 
B) revenue 
C) deferred revenue 
D) capital loss

Trading account is a

While putting the value or price of an entity in financial records the lowest price is recorded not the current price or current market value. This is known as

Amount spent to increasing the earning capacity is a ______ expenditure

Accounting Concepts and Principles

Accounting and Financial Management for Branches and Head Offices

Accounting for Branches and Partnerships

Accounting for Partnerships: Drawings, Goodwill, and Retirement

Partnership and Dissolution: Understanding the Ins and Outs of a Business Partnership

Hire Purchase System and Dissolution of Assets in a Firm

Hire Purchase Agreements and Company Accounting

Shares, Reserves, and Dividends in Company Law

Issuing and Cancelling Shares and Debentures in a Company

Filters

Exam 1: Accounting and Financial Concepts and Principles

Trading account is a

While putting the value or price of an entity in financial records the lowest price is recorded not the current price or current market value. This is known as

Amount spent to increasing the earning capacity is a ______ expenditure

Accounting Concepts and Principles

Accounting and Financial Management for Branches and Head Offices

Accounting for Branches and Partnerships

Accounting for Partnerships: Drawings, Goodwill, and Retirement

Partnership and Dissolution: Understanding the Ins and Outs of a Business Partnership

Hire Purchase System and Dissolution of Assets in a Firm

Hire Purchase Agreements and Company Accounting

Shares, Reserves, and Dividends in Company Law

Issuing and Cancelling Shares and Debentures in a Company

Filters