Multiple Choice
The policy of anticipate no profit and provide for all possible losses arises due to
A) Convention of consistency
B) Convention of conservatism
C) Convention of materiality
D) Convention of full disclosure
Correct Answer:
Verified
Correct Answer:
Verified
Q7: Capital account is a<br>A)Fictitious account<br>B)Personal account<br>C)Liability account<br>D)Nominal
Q8: According to which concept, proprietor of a
Q9: The process of converting foreign subsidiary financial
Q10: Divisible profit do not include<br>A)Insurance fund<br>B)Reserve fund,<br>C)profit
Q11: Revenue is generally recognized as being earned
Q13: Unclaimed dividend is shown in the B/S
Q14: Preliminary expenses is an example of<br>A)Fixed asset<br>B)Current
Q15: In the balance sheet of a company,
Q16: The international accounting standard Committee was set
Q17: Which of the following should be deducted