Theory Base Of Accounting CBSE Questions & Answers

A firm may hold stock which is heavily in demand. Consequently, the market value of this stock may be increased. Normal accounting procedure is to ignore this because of the ___________.

If a firm receives an order for goods, it would not be included in the sales figure owing to the ___________.

The management of a firm is remarkably incompetent, but the firms accountants can not take this into account while preparing book of accounts because of____ concept

12 television sets of Rs.10,000 each are purchased and this event is recorded in the books with a total amount of Rs.1,20,000 is an example of

Full form of IFRS.

Money measurement concept ignores the recording of

Which statements are drawn to provide information about growth or decline of business activities over a period of time or comparison of the results, i.e. intra-firm or inter firm comparisons

Which of the following is correct?

According to Revenue Recognition Concept of accounting we do not record:

Outstanding expenses are not recorded in ________ accounting.

Under which system of accounting transactions is recorded in the books of accounts on the receipt/payment of cash

Revenue and expenses are recorded only when they are recognized as per the ____ Accounting.

According to companies act 1956 all companies are required to maintain their accounts according to

______________ are written statements issued from time to time by institutions of accounting professionals, specifying uniform rules for drawing the financial statements

As per the business entity assumption, the business is different from the