| A. | Dual aspect concept |
| B. | Matching concept |
| C. | Going concern concept |
| D. | Money measurement concept |
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Option: A Explanation : Click on Discuss to view users comments. |
Stock is valued in the books of accounts at
| A. | Cost price |
| B. | Market price |
| C. |
Cost price of market price whichever is less
|
| D. |
Depends whether LIFO method is used or FIFO method is used
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Option: D Explanation : Click on Discuss to view users comments. |
| A. | Claims against the resources. |
| B. |
Currently existing obligations which the firm intends to meet at some time in the future.
|
| C. |
It must be capable of being expressed in money terms.
|
| D. | All of the above |
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Option: D Explanation : Click on Discuss to view users comments. |
| A. | Trading and Profit and Loss Account |
| B. | Balance sheet |
| C. | Trial balance |
| D. | None of the above |
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Option: B Explanation : Click on Discuss to view users comments. |
