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

Shiva Ram • 29.40K Points
Instructor II

Q. 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

(A) business entity concept

(B) conservatism

(D) money measurement concept

Correct Answer - Option(B)

Discusssion

Q. All revenue incomes are credited to

Q. Section 37 of partnership act provided interest on the amount left by retiring or decreased partner at:

Q. Cash a/c is a ______

Q. The adjusting entry for difference between the invoice price and cost price of goods are shown in ________

Q. Current accounts of the partners should be opened when the capitals are:

Q. Branch Trading & Profit & Loss A/c is prepared to incorporate all _____

Q. Loss on realization is:

Q. Loss on realization is distributed among partners:

Q. In income measurement & recognisation of assets & liabilities which of the following concepts goes together?

Q. When all partners are insolvent creditors will be:

Q. 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

Discusssion

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