Which one is obligation or debt?
Asset
Liability
Capital
Sales
Assets acquired relatively for longer periods.
Current assets
Intangible assets
Wasting assets assets
Fixed assets
As per which principle 'the expenses be recognized in the period of associated revenue'.
Matching cost and revenue
Historical
Dual concept
None of these
Which aspect of the accounting information helps the user to depend on the information provided?
Reliability
Relevance
Understandability
Comparability
Which accounting assists keeping a systematic record of financial transactions?
Management A/c
Financial A/c
Cost A/c
Tax A/c
As per which accounting concept business and owners are considered seperate.
Going concern
Money measurement
Accounting entity
Periodicity
The excess of revenue of a period over its related expenses during an accounting year.
Profit
Loss
Discount
Which principle speaks about the time for recognizing revenue or income?
Dual aspect
Historical cost
Revenue recognition
Matching
Which one of the following is the objective of accounting?
Depiction of financial position
Identification
Measurement
Recording
What are total revenue from goods or services provided to customers called?
Purchases
Assets
