Fundamentals Of Accounting And Auditing - Accounting And Auditing Section 1

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11. _____________is the root cause for financial accounting

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Option : A
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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

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Option : B
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13. The proprietor of the business is treated as a creditor for the capital introduced by him due to_____ concept.

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Option : C
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14. Fixed assets are held by a business for _____

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Option : B
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15. Which accounting concept specifies the practice of crediting closing stock to the trading account?

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Option : D
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Accounting And Auditing Section 1

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