Multiple Choice
A trader has made a sale of Rs.75,500 out of which cash sales amounted to Rs.25,500. He showed trade receivables on 31-3-2014 at Rs.25,500. Which concept is followed by him?
A) Going concern
B) Cost
C) Accrual
D) Money measurement
Correct Answer:
Verified
Correct Answer:
Verified
Q11: Profit and loss is calculated at the
Q12: Real accounts records<br>A)Dealings with creditors or debtors<br>B)Dealings
Q13: Debit the receiver & credit the giver
Q14: Business enterprise is separate from its owner
Q15: Small items like, pencils, pens, files, etc.
Q17: The assets that can be easily converted
Q18: The comparison of financial statement of one
Q19: Which of the following is not a
Q20: Which accounting concept satisfy the valuation criteria?<br>A)Going
Q21: Fixed assets are held by business for