Which accounting are not static in nature?
Principles
Concepts
Conventions
Postulates
According to which concept that the records of the transaction are to be kept not in the physical units but in the monetary unit?
Money measurement concepts
Basic accounting concepts
Business accounting 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?
Full disclosure
Matching
Objectivity
Revenue recognition
Which principles refers to the rules of guidelines adopted for recording and reporting of business transaction?
Generally Accepted Accounting Principles
Basic Accounting Concepts
Business Entity Concepts
Money Measurement Concept
Which concept assumes that business has a distinct and separate entity from its owners?
Business Entity concepts
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
Which concepts states that accounting should focus on material facts?
Materiality
Which concepts are referred to as the fundamental ideas or basic assumptions underlying the theory and practice of financial accounting?
Cost Concept
Which concept emphasis's that expenses incurred in an accounting period should be matched with revenues during that period?
Full Disclosure
Consistency
Which concepts includes cost of acquisition transaction?
Dual Aspect
Cost concept
Going concern