Q39.During the lifetime of an entity accounting produce financial statements in accordance with which basic accounting concept:
(1) Matching
(2) Conservation
(3) None of the above
(4) Accounting period
Answer
Accounting period
Related Questions on Theory Base of Accounting
Q40.Salary A/c is related to
(1) Real A/c
(2) Personal A/c
(3) Capital A/c
(4) Nominal A/c
Answer
Nominal A/c
Q41.The Trading and Profit and Loss Account is prepared under which attribute of accounting:
(1) Recording
(2) Summarising
(3) Analysis and Interpretation
(4) Classifying
Answer
Summarising