As per which principle of accounting there should not be frequent changes in accounting.
Material
Consistency
Dual aspect
Going concern
Which one is reduces the investment of the owner?
Profit
Purchase
Drawings
Sales
As per which accounting concept business and owners are considered separate.
Money measurement
Accounting entity
Periodicity
What are economic resources of an enterprises that can be usefully expressed in monetary terms?
Assets
Liabilities
Revenues
What is not sufficient that the financial information is relevant and reliable at a particular time?
Reliability
Relevance
Understandability
Comparability
The excess of revenues of a period over its related expenses during the accounting year?
Loss
Capital
Discount
As per which principle revenue is accounted when sales is made or service is needed and expense is recorded when it is due for payment .
Prudence
Accrual
Materiality
Which of the following is not an accounting principle?
Historical cost
Revenue recognition
Which one of the following is the Internal event?
Supply of raw material
Sale of Reebok shoes to the customers.
Payment of monthly rent to the landlord
Purchase of materials from suppliers.
Which accounting deals with decision making, planning, controlling business operation?
Management accounting
Financial accounting
Cost accounting
None of these
