what are accounting concepts?,what is the use of
commerce?,what is accounting conversation?
Answer Posted / nrusingh panda
business entity concept,going concern concept,money
measurement concept,cost concept,dual aspect
concept,accounting period concept,matching
concepts,realisation concepts and objective evidence
concept.
the term conventions denotes customs or traditions which
guide the accountant while preparing statements.
| Is This Answer Correct ? | 4 Yes | 0 No |
Post New Answer View All Answers
What will your outlook towards maintenance of liquid assets to ensure that the firm has adequate cash in hand to meet its obligations at all times
CLASSIFY THE FOLLOWING INTO REAL,NOMINAL AND PERSONAL- 1.unpaid salaries a/c 2.arvind mills a/c 3.arvind mills shares a/c 4.prepaid rent a/c 5.fire insurance premium a/c 6.life insurance premium a/c 7.petty cash a/c 8.loan given a/c 9.interest received a/c 10.loan received a/c
what is Calculation of Gross Profit Or Gross Loss?
Is it correct to covered fesibility report expenses and survey expenses in pre-operative exepenses ?
What is pre-paid amount? What is post-paid amount? Explain received in advance? Explain paid in advance?
1. Cold Ice, Inc. sells ice cream sells for $2 each. The variable costs per ice cream are $1 and the fixed overheard costs are $ 0.35. A summer camp wants to place a one-time order for 100 cone of ice cream at a price of $ 1.25 each. What is the minimum price hot dogs should be charge for this special order?
What is mean by Reserve on Consolidation?
Explain howyou would account for the following items/situations,justifying answers by reference to the conceptual frameworks defintion and rcognition criteria. a)A trinket of sentimental value only b)You are the guarantor for your friends bank loan i) You have no reason to belive that your friend will default on the loan ii) As your friend is in serious financial dificulties,you think it is likely that he will default on the loan c)You receive 1000 shares in X Ltd,trading at $4 each,as a gift from a grateful client. d)The panoramic view of the coast from your cafes windows,which you are convinced attracts customers to your cafe
How to calculate closing stock? I have opening stock of 72 lacs (average costing without tax) and purchase of 49 lacs (with tax) and sales of 101 lacs (without tax). What is my closing stock then???? Should i add tax in sales? Where all should tax be included and where all should tax NOT be included? Right now i calculated => 72(no tax)+49(with tax)-101(no tax) = 20 lacs. IS this correct?
Calculate Income Ta X On Nett Income Of Rs 365520 For Men,women And Senior Citizen For The Assessment Years 2009- 10 And 2010-11?
interest paid comes under which head
For how long should prepayments be carried in the books as fictitious asset and when is it ideal for a new coy to pay tax
Can anybody send me Interview questions & Answers to me IN Accounts & finance my Mail ID - virupaksha_krt@rediffmail.com
You use the accounts approach for parallel valuation in a new G/L system. If you used the ledger approach instead. Which objects would be different? ( any 3 answer) Chart of accounts Financial statement version Depreciation areas Asset classes Leading ledger
give the details of overheads which are not included in costing