Q6.Meaning of credibility of going concern is:
(1) Opening of business
(2) Closing of business
(3) None of these.
(4) Continuing of business
Answer
Continuing of business
Related Questions on Theory Base of Accounting
Q7.The sum of Liabilities and Capital is-
(1) Income
(2) Expense
(3) Assets.
(4) Drawings
Answer
Assets.
Q8.In India, the accounting standard board was set up in the year-
(1)1977
(2)1972
(3)1932
(4)1956
Answer
1977