Miscellaneous In Commerce - Study Mode
[#271] Accounting principles are generally based upon:
Correct Answer
(A) Practicability
[#272] The cash discount allowed to a debtor should be credited to:
Correct Answer
(B) Customer a/c
[#273] Which one of the following items would fall under the definition of a liability?
Correct Answer
(C) Owner's equity
[#274] Which of the following is not related with Money Measurement Concept?
Correct Answer
(B) The transactions which cannot be expressed in money, will not be recorded in accounting books
[#275] Content of income statement
Correct Answer
(D) All of the above