Transaction& events not capable of being expressed in terms of money are not to be recorded in accounting due to

Related MCQs

• If any transaction is not recorded in the primary books the same is recorded in _______
• What is the order in which the accounting transactions and events are recorded in the books
• 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:
• A merchant sends out his goods casually to his dealers on approval basis. All such transactions are, however, recorded as actual sales and are passed through the sales book. On 31st March, it was found that 100 articles at a sale price of ` 200 each sent on approval basis were recorded as actual sales at that price. The sale price was made at cost plus 25%. The amount of stock on approval will be amounting
• In single entry two-fold aspect of transaction are not recorded, so it is:
• Only the significant events which affect the business must be recorded as per the principle of
• In accounting only ________ discount is recorded
• When a machinery is purchased for cash, the cash balance is reduced and to that extent, the amount of machinery as an asset is recorded. This is done to follow which of the following accounting principles:
• Fixed assets purchased on hire purchased on hire purchase terms are recorded at