Which concept states that only those transactions and happenings in an organisation can be expressed in terms of money?
Revenue recognition concept
Money measurement concept
Matching concept
Dual aspect concept
Which concept emphasises that expenses incurred in an accounting period should be matched with revenues during that period?
Revenue regcognition
Matching
Full Disclosure
Consistency
Which have evolved over a long period of time on the basis of past experiences, usages or customs?
Generally Accepted Accounting Principles (GAAP)
Basic Accounting Concepts
Business entity concepts
Money measurement concepts
Which broad approach of accounting are cash basis and accrual basis?
Basis of Accounting
System of accounting
Accounting
Revenue recognition
Which concept requires that business transactions should be recorded in such manner that profits are not overstated?
Accounting standard
Conservatism
Objectivity
Materiality
Which concept of revenue recognition requires that the revenue for a business transaction should be considered realised when a legal right to receive it arises?
Full disclosure
Assets which cannot be touched or seen
Fixed assets
Current assets
Intangible assets
Wasting assets
Which concepts states that accounting polices and practices followed by enterpries?
Which concept assumes that business has a distinct and separate entity from its owners?
Business Entity concepts
Cost concepts