why assets are shown at their historical cost price but not at their current price bcoz we are following historical cost concept. but this will not reveal correct financial position of the business.give reason


No Answer is Posted For this Question
Be the First to Post Answer

Post New Answer

More Accounting General Interview Questions

What request submit to convert Expenses Report to Invoice

0 Answers   Accenture,


How to Automate requirment mapping in QC?

0 Answers  


1. The following data is available. Determine the Break Even point in Sales: Sales : $1,800,000/- Fixed Expenses : $ 375,000/- Variable Expenses : $ 1,200,000/-

0 Answers  


What are the advantages of double entry system?

0 Answers  


Which ledger are already exist in the tally erp9 ?

5 Answers   Tally Solutions,






how does calculated retain earnings?

2 Answers  


If ABC security service provider monthly bill for the month of Jan is Rs.2,00,000/- including TDS 2% and Service Tax 12%, Edu.Cess 2% and SHE Cess 1% what is the journal entry.

3 Answers   ABC,


what is the golden principles of accountin

2 Answers  


MEANING OF RED HERRITING

0 Answers  


process for creating a balance sheet

4 Answers  


What is the meaing of holding Holding company?Give one example?

3 Answers   Capital IQ,


whats difference between manufacturing account & cost account

2 Answers   Kurlon,


Categories