Financial accounting is concerned with
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Matching concept means
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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?
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Which of the following is not the main objective of accounting?
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The comparison of financial statement of one year with that of another is possible only when concept is followed
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Historical cost concept requires the valuation of an asset at
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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
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Which of the following is not a nominal Account?
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Valuation of stock in accounting follows the principle of cost price or which ever is lower
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If nothing is written about the accounting assumption to be followed it is presumed that
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As per accrual concept, which of the followings is not true
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