Accounting does not record non- financial transactions because of

Related MCQs

• Which of the following is true statement for computerised accounting system? a. the computer accounting system is based on the concept of database. b. Computer accounting system does not away with the concept of creating and maintaining journals, ledger etc.
• Accounting procedures and accounting practices should remain same from year to year under which of the following accounting principles:
• Which of the following voucher is used to record transactions that do not affect bank & cash?
• Accounting records transactions in term of
• Such systems also generate reports which allow the accounting professionals to have a proper view of different transactions in a comprehensive manner.
• What is the order in which the accounting transactions and events are recorded in the books
• To convert the accounts prepared on cash system of accounting into mercantile system of accounting, which of these adjustments is not necessary
• A company sends its cars to dealers on 'sale or return' basis. All such transactions ire however treated like actual sales and are passed through the sales day book. Just before the end of the financial year, two cars which had cost ` 55,000 each have been sent on sale or return and have been debited to customers at ` 75,000 each, cost of goods lying with the customers will be
• The accounting process of gradually converting the unexpired cost of fixed assets into expenses over a series of accounting periods is
• Accounting Standard 1 requires the significant Accounting Policies to