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11. _____________is the root cause for financial accounting
Stewardship accounting
Social accounting
Management accounting
Human resource accounting
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12. If nothing is given in the financial statements about the three accounting assumptions then it is to be treated as it
Is assumed that it is not followed
Is assumed to be followed
Is assumed to be followed to some extent
None of the above
13. The proprietor of the business is treated as a creditor for the capital introduced by him due to_____ concept.
Money measurement
Cost
Entity
Dual aspect
14. Fixed assets are held by a business for _____
Converting into cash
Generating revenue
Resale
15. Which accounting concept specifies the practice of crediting closing stock to the trading account?
Realization
Going concerned
Matching
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