The comparison of financial statement of one year with that of another is possible only when _______ concept is followed

Related MCQs

• The policy of anticipate no profit and provide for all possible losses arise due to the concept of _____
• Small items like, pencils, pens, files, etc. are written off within a year according to ___ concept.
• If nothing is written about the accounting assumption to be followed it is presumed that
• 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 ______
• While putting the value or price of an entity in financial records the lowest price is recorded not the current price or current market value. This is known as
• The process of recording financial data upto trial balance is
• _______ is root cause for financial accounting
• Which of the following provide frame work and accounting policies so that the financial statements of different enterprises become comparable.
• 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?