Multiple Choice
The basic concepts related to P & L Account are
A) Realization Concept
B) Matching Concept
C) Cost Concept
D) Both (a) and (b) above
Correct Answer:
Verified
Correct Answer:
Verified
Related Questions
Q30: Fixed Assets and Current Assets are categorized
Q31: Gross Profit is the difference between<br>A)Net Sales
Q32: Accounting does not record non- financial transactions
Q33: Under _ system , the buyer gets
Q34: Under which of the following concepts are
Q36: Which of the following is an example
Q37: The properties and possession of a business
Q38: Which of the following concepts assumes that
Q39: X Ltd., purchased goods for ` 5
Q40: The underlying accounting principle(s) necessitating amortization of