Financial Accounting MCQs

For every debit there will be an equal creditaccording to

April 23, 2022

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For every debit there will be an equal creditaccording to

Q. For every debit there will be an equal creditaccording to

A. Dual aspect concept

B. Matching concept

C. Money measurement concept

D. cost concept

Answer: Dual aspect concept

For every debit there will be an equal creditaccording to

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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

For every debit there will be an equal creditaccording to

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Historical cost concept requires the valuation of an asset at

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