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 accounting are not static in nature?
Principles
Concepts
Conventions
Postulates
Cost of acquisition, transportation, are included in which concept?
Dual Aspect
Cost concept
Going concern
Objectivity
Which concepts cannot over ride the provisions of applicable laws, customs, usage and business environment in the country?
Revenue recognition
Matching
Accounting standards.
Which term is defined by AICPA as "A general law or role adopted or professed as a guide to action, a settled ground or basis of conduct or practice"?
Convention
Which concept requires that business transactions should be recorded in such manner that profits are not overstated?
Accounting standard
Conservatism
Materiality
Which broad approach of accounting are cash basis and accrual basis?
Basis of Accounting
System of accounting
Accounting
Which concept assumes that business has a distinct and separate entity from its owners?
Money measurement concepts
Business Entity concepts
Cost concepts
The concept that states accounting transaction should be recorded in the manner so that it is free from the bias of accountants and others.
Consistency
Full Disclosure