Q 13)nothing is given in the financial statements about the three accountingassumptions then it is to be treated as it a)assumed that it is not followed b) is asumed to be followed c) is assumed to be followed to some extent d) None of the above
Q 13)nothing is given in the financial statements about the three accountingassumptions then it is to be treated as it
a)assumed that it is not followed
b) is asumed to be followed
c) is assumed to be followed to some extent
d) None of the above
Q14) The proprietor of the business is treated as creditor for the capital introduced by concept him due to
A) Money measurement
b) Cast
c) Einnity
d) Dual aspect
Q15)Fixed assets are held by business for
a) Converting into cash b) Generating revemie 3 Resale d) None of the above
Q14 Which accounting concept specifies the practice of crediting closing stock sothe
trading account
a) Cost b) Realisation ci Cloing concem dy Matching
expendeure
017) Ammnt spent to increasing the coming capacity is a
a) Capital b) Revenue ch Defened revenus d) Capital Loss
Q18) Change in the capital Ale of proprietor may occur due to
a) Prufit carmed b) Less incurred c) Capital Introduced d) All of the above
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