Exam 22: Accounting Concepts and Principles

Debentures are shown in the B/S under head.

Which of the following item will be taken in the surplus statement

Which of the following would not appear in a limited company's surplus/Deficit statement

loose tools are shown in the B/S under the head.

The original cost at which an asset or liability is acquired is known as --------

Depreciation is

Capital account is a

According to which concept, proprietor of a business is treated as a creditors to the extent of his capital

The process of converting foreign subsidiary financial statements into the home currency is known as -------

Divisible profit do not include

Revenue is generally recognized as being earned at the point of time

The policy of anticipate no profit and provide for all possible losses arises due to

Unclaimed dividend is shown in the B/S under the head

Preliminary expenses is an example of

In the balance sheet of a company, the discount on issue of debentures is shown under which heading

The international accounting standard Committee was set up in --------

Which of the following should be deducted from the share capital to find out paid up capital

Accounting in india is governed by the -----

The fundamental accounting equation Assets = liabilities is the formal expression of

Net worth of business means