Commercial Applications
Accounting means ……………
- Keeping an account of money received
- Keeping an account of money spent
- Keeping an account of money spent and loan received.
- Keeping an account of money received and money spent.
Related Questions
This principle is an exception to the principle of full disclosure.
- Materiality
- Consistency
- Conservatism
- Timeliness
According to Business Entity Concept:
- Distinction should be made between fixed assets and current assets.
- Distinction should be made between business transactions and personal transactions.
- Distinction should be made between Capital expenditure and revenue expenditure.
- Accounting equation is always true.
According to the …………… principle of accounting, transactions are recorded on the assumption that the business will exist for an indefinite period of time.
- Business Entity Concept
- Dual Aspect
- Going Concern Concept
- Money Measurement Concept
Ledger is also called the ……………
- Journal book
- Principal book
- Account book
- Subsidiary book