Balance sheet shows the ___________ position as on the last day of accounting period.

___________ eliminate confusing variations in accounting treatment used to prepare financial statements.

The accountant follow the playing safe as principle of ____________.

Treatement of income received in advance is ignores in _________ basis of accounting.

In ____________ basis,proportionate part of revenue equivalent to portion of project completed during the accounting year is recognized.

The basis of preparation of financial statement and presentation should be _______________.

__________ basis is generally used when it is difficult to determine revenue amount at the time of credit sale.

__________ assets are not affected by historical cost concept.

At the end of each accouting period ___________ are prepared.

Which system is recognized under the Indian companies Act 1956?