Which are economic resources of an enterprises that can be usefully expressed in monetary terms?
Assets
Liabilities
Sales
Revenues
Assets acquired relatively for longer periods.
Current assets
Intangible assets
Wasting assets assets
Fixed assets
Temporary marketable seculities are:
Preliminary expences
Fiticious assets
Which accounting principle speaks that the accounting data should be verifiable?
Dual aspect
Principle of verifiability and objectivity
Historical cost
Trial
What is called spending money or incurring a liability for some benefit or service received?
Expenditure
Expense
Loss
Gain
As per which principle of accounting assets acquired are recorded at cost price?
Going concern
Revenue recognition
State: Income = ?
Revenue - Expense
Expense - Revenue
Revenue - Loss
Which of the following is not a basic assumptions of accounting?
Accounting entity
Money measurement
Materiality
Out of the following which one is an Internal user?
Labor unions
Trade associations
Managers
Creditors
Assets acquired with the intention of converting into cash easily.
Wasting assets