Financial accounting is concerned with
READ MORE +Financial Accounting MCQs
Matching concept means
READ MORE +
An asset was purchased for Rs.1000000 with the down payment of Rs.200000 and bills accepted for Rs.800000/-What would be the effect on the total asset and total liabilities in the balance sheet?
READ MORE +
Which of the following is not the main objective of accounting?
READ MORE +
The comparison of financial statement of one year with that of another is possible only when concept is followed
READ MORE +
Historical cost concept requires the valuation of an asset at
READ MORE +
For every debit there will be an equal creditaccording to
READ MORE +
Mr. X is a dealer in electronic goods (refrigerator, washing machine, air conditioners, televisions, etc.) He purchased two air conditioners and installed in his showroom. In the books of X the cost two air conditioners will be debited to
READ MORE +
Which of the following is not a nominal Account?
READ MORE +
Valuation of stock in accounting follows the principle of cost price or which ever is lower
READ MORE +
If nothing is written about the accounting assumption to be followed it is presumed that
READ MORE +
As per accrual concept, which of the followings is not true
READ MORE +Show next