What is concerned with the recording, classifying and summarizing of financial translations?
Accounting
Organising
Marketing
Training
Which concepts cannot over ride the provisions of applicable laws, customs, usage and business environmental in the country?
Revenue recognition
Matching
Dual Aspect
Accounting standards.
Which concept emphasis's that expenses incurred in an accounting period should be matched with revenues during that period?
Full Disclosure
Consistency
Assets which cannot be touched or seen:
Fixed assets
Current assets
Intangible assets
Wasting assets
Which concepts states that accounting should focus on material facts?
Materiality
Objectivity
Full disclosure
Which concept assumes that business has a distinct and separate entity from its owners?
Basic Accounting Concepts
Money measurement concepts
Business Entity concepts
Cost concepts
Which basic accounting concept requires that the revenue for a business transaction should be considered realised when a legal right to receive it arises?
Which have evolved over a long period of time on the basis of past experiences usages or customs?
Generally Accepted Accounting Principles (GAAP)
Business entity concepts
Cash and accrual basis are the two broad approaches of:
Basis of Accounting
System of Accounting
Full of Accounting
Revenue Recognition
Which principles refers to the rules of guidelines adopted for recording and reporting of business transaction?
Generally Accepted Accounting Principles
Business Entity Concepts
Money Measurement Concept