.______________ related to the codification of generally accepted accounting principles.
Basic concept
Basic principle
Accounting standard
Modifying principle
Which system is recognized under the Indian companies Act 1956?
Cash basis of accounting
Accrual basis of accounting
Both 1 and 2
None of these
Treatement of income received in advance is ignores in _________ basis of accounting.
Accrual
Cash
In which system true profit is calculated?
The accountant follow the playing safe as principle of ____________.
Accrual concept
Conservatism
Consistency
Materiality
____________ draw boundaries with in which acceptable conduct should lie.
______________ are the policy documents issued by the recognized expert accountancy body relating to various aspects .
Modifying principles
Accounting standards
Basic concepts
Basic principles
The capital is treated as a __________ of the business.
Debtors
Creditors
Liability
Assets
_____________ is the basic principle of accounting.
Dual aspect
Principle of varibility
Principle of revenue recognisation
Principle of historical cost
__________ basis is generally used when it is difficult to determine revenue amount at the time of credit sale.
Sales
Production