If nothing is given in the financial statements about the three accounting assumptions then it is to be treated as it

Related MCQs

• What is root cause for financial accounting
• The proprietor of the business is treated as creditor for the capital introduced by him due to_____ concept.
• Which shortcut key is pressed and then ‘yes’ is given in “Use Debit/Credit Noted” to post entry in Credit Note and Debit Note in Tally?
• Which accounting concept satisfy the valuation criteria
• In which of the following cases, accounting estimates are needed?
• Which accounting concept specifies the practice of crediting closing stock to the trading account?
• Consistency with reference to application of accounting procedures means
• 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?
• The process of recording financial data upto trial balance is