Historical cost concept requires the valuation of an asset at

Related MCQs

• Valuation of stock in accounting follows the principle of cost price or ____ whichever is lower.
• When an asset is acquired on hire purchase system, the asset account is debited with _______ of the assets in the books of the hire purchaser.
• Cost concept basically recognises ____
• The Market price of good declined than the cost price. Then the concept that plays a key role is ____
• Under debtors system depreciation on fixed asset is ________
• If a partner takes over an asset of the firm, his capital account:
• On the balance sheet of a company, the value of the asset bought through hire purchase will appear as:
• The depreciation on an asset purchased through hire purchase should be:
• The act of buying an asset without having to make full payment in the immediate future is known as:
• The proprietor of the business is treated as creditor for the capital introduced by him due to_____ concept.