As per which principle of accounting there should not be frequent changes in accounting?
Material
Consistency
Dual aspect
Going concern
Assets which cannot be touched or seen.
Fixed assets
Current assets
Intangible assets
Wasting assets
Which one is obligation or debt?
Asset
Liability
Capital
Sales
Which one of the following is an Internal event?
Supply of raw materials
Sale of Reebok shoes to the customers.
Payment of monthly rent to the landlord
Purchase of materials from suppliers.
Which accounting principle speaks that the accounting data should be verifiable?
Principle of verifiability and objectivity
Historical cost
Trial
Which of the following is not a basic assumptions of accounting?
Accounting entity
Money measurement
Materiality
Which means a specifically identified business enterprise?
Entity
Business Entity
Transactions
Revenues
The amount of goods which are lying unsold as at the end of an accounting period with the firm is called:
Opening stock
Closing stock
Stock in hand
Semi finished goods
Temporary marketable seculities are:
Preliminary expences
Fiticious assets
Persons and/or other entities who owe to an enterprise an amount for buying goods and service on credit are termed as:
Debtors
Creditors
Owners
Debenture holders
