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Q53. 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 Q54.When information about two difference enterprises have been prepared presented in a similar manner the … Read more

Q52. Meaning of credibility of going concern is : (1) Opening of business (2) Closing of business (3) None of these. (4) Continuing of business Answer Opening of business Related Questions on Theory Base of Accounting Q53. During the lifetime of an entity accounting produce financial statements in accordance with which basic accounting concept: (1) … Read more

Q51. In India, the accounting standard board was set up in the year- (1)1977 (2)1972 (3)1932 (4)1956 Answer 1932 Related Questions on Theory Base of Accounting Q52. Meaning of credibility of going concern is : (1) Opening of business (2) Closing of business (3) None of these. (4) Continuing of business Answer Opening of business … Read more

Q50. The sum of Liabilities and Capital is- (1) Income (2) Expense (3) Assets. (4) Drawings Answer Assets. Related Questions on Theory Base of Accounting Q51. In India, the accounting standard board was set up in the year- (1)1977 (2)1972 (3)1932 (4)1956 Answer 1932 Q52. Meaning of credibility of going concern is : (1) Opening … Read more

Q49.Which one of the following statement is correct? (1) Income = Expenses – Revenue. (2) Income = Revenue Expenses. (3) Income= Profits – Expenses. (4) Expenses = Income – Revenue. Answer Income = Revenue Expenses. Related Questions on Theory Base of Accounting Q50. The sum of Liabilities and Capital is- (1) Income (2) Expense (3) … Read more