Which accounting concept satisfy the valuation criteria

Related MCQs

• Which accounting concept specifies the practice of crediting closing stock to the trading account?
• Which option lists inventory valuation method in tally?
• In which of the following cases, accounting estimates are needed?
• Which key is pressed to post entries in double entry accounting system instead of single entry system in Tally.ERP9?
• Which shortcut key is used in ‘Company Feature’s screen to use Accounting Features in Tally?
• What is root cause for financial accounting
• If nothing is given in the financial statements about the three accounting assumptions then it is to be treated as it
• Consistency with reference to application of accounting procedures means
• A trader has made a sale of Rs.75,500 out of which cash sales amounted to Rs.25,500. He showed trade receivables on 31-3-2014 at Rs.25,500. Which concept is followed by him?
• A trader purchases goods for Rs. 2500000, of these 70% of goods were sold during the year. At the end of 31st December 2009, the market value of such goods were Rs. 500000. But the trader recorded in his books for Rs. 750000. Which of the following concept is violated?