Multiple Choice
Revenue is generally recognized as being earned at the point of time
A) Sale is effected
B) Cash is effected
C) Production is completed
D) All of the above
Correct Answer:
Verified
Correct Answer:
Verified
Q6: Depreciation is<br>A)An accounting necessity only<br>B)Tax necessity only<br>C)Tax
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
Q12: The policy of anticipate no profit and
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