Multiple Choice
According to this convention, important items must be recorded instead of being left out or merged with other items.
A) Convention of Consistency
B) Convention of Full Disclosure
C) Convention of Materiality
D) Convention of Prudence
Correct Answer:
Verified
Correct Answer:
Verified
Q14: Goods distributed as free samples is debited
Q15: Creditors for goods purchase come within the
Q16: The Accounting Standards Board was established in
Q17: The comparison of the results of one
Q18: The process of recording financial data up
Q20: Which of the following explains the imprest
Q21: Drawings account is the nature of<br>A)Personal Account<br>B)Real
Q22: Cash discount is provided?<br>A)Early payment<br>B)Late payment<br>C)Bulk purchase<br>D)Bulk
Q23: The opening stock is shown in:<br>A)Trading Account<br>B)Profit
Q24: The term "compound entry" means that the