As per which principle of accounting assets acquired are recorded at cost price
Historical cost
Going concern
Revenue recognition
Dual aspect
Which principle speaks about the time for recognizing revenue or income.
Matching
___________ is a process of identifying, measuring, recording, classifying, summarising, analysing, interpreting and communicating the financial transaction.
Financial accounting
Management accounting
Cost accounting
None of these
which one of the following is the Internal event?
Supply of raw material
Sale of Reebok shoes to the customers.
Payment of monthly rent to the landlord
Purchase of materials from suppliers.
Financial accounting is a process of
Identifying
Measuring
Recording
All of the above
The money spent or liability incurred for the value received in terms of purchase of assets is called
Revenue
Income
Expenditure
Loss
The amount due from debtors and bills receivable is jointly termed as
Receivable
Accounts receivable
Both a and b
Revenue income is __________ in nature.
Recurring
Non recurring
Both a & b
Public deposits is an example of _______________ liabilities.
Fixed
Current
Short term
As per which principle 'the expenses be recognized in the period of associated revenue'.
Matching cost and revenue
Historical
Dual concept