Small items like, pencils, pens, files, etc. are written off within a year according to ___ concept.

Related MCQs

• The comparison of financial statement of one year with that of another is possible only when _______ concept is followed
• Human resources will not appear in the balance sheet according to ______ concept.
• Business enterprise is separate from its owner according to _____ concept.
• According to which concept, the proprietor pays interest on drawings
• H.O. sent Rs 5000 as petty cash to branch during the year. Opening and closing balances of petty cash was Rs 1400 and Rs 400 respectively. Then petty expenses of the branch during the year will be ______
• The system of keeping accounts generally adopted by small size branches are:
• If the minimum subscription is not received by the company, then the refund of application money should be made within ______ days.
• The proprietor of the business is treated as creditor for the capital introduced by him due to_____ concept.
• Which accounting concept specifies the practice of crediting closing stock to the trading account?
• The policy of anticipate no profit and provide for all possible losses arise due to the concept of _____