Multiple Choice
According to which principle the same accounting methods should be used each year:
A) Prudence
B) Full disclosure
C) Materiality
D) Consistency
Correct Answer:

Verified
Correct Answer:
Verified
Related Questions
Q6: 1 oct Opening balance=400 units @Rs 20
Q7: 2 oct Opening balance=200 units @Rs 15
Q8: Cost of machine=1,90,000 Installation=10,000 Scrap=50,000 Life=6 yrs
Q9: The elements of the accounting equation are<br>A)Assets,
Q10: When Salary is paid by cheque, which
Q12: When proprietor withdrew cash from business for
Q13: 4 oct Opening balance=500 units @Rs 20
Q14: Trial balance is not a conclusive proof
Q15: In trial balance, which accounts with is/are
Q16: If closing stock is mentioned in trial