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Accounting and Auditing - Financial Accounting MCQ

Avatto > > UGC NET COMMERCE > > PRACTICE QUESTIONS > > Accounting and Auditing > > Financial Accounting MCQ

31. Cost concept basically recognizes ____

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32. If the Market value of closing inventory is less than its cost price, inventory will be shown at ____

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33. The Market price of goods declined than the cost price. Then the concept that plays a key role is ____

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34. Fixed assets are double the current assets and half the capital. The current assets are Rs.3,00,000 and investments are Rs.4,00,000. Then the current liabilities recorded in the balance sheet will be

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35. Which of the following provide framework and accounting policies so that the financial statements of different enterprises become comparable.

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Financial Accounting MCQ