The basis upon which assets of an organization is valued ...
The basis upon which assets of an organization is valued is the
Historical concept
Business entity concept
Periodicity concept
Materiality concept
Correct answer is A
The historical cost concept (also known as cost principle of accounting) states that the assets and liabilities of a business should be presented in accounting records at their historical cost.
Stock account is a type of ...
Which of the following accounts has a debit balance? ...
One of the major features of bookkeeping is that it? ...
The major advantage of an imprest system is that it ...
Which of the following items will not be entered in the adjusted cash book? ...
Use the following information to answer the given question \(\begin{array}{c|c} & N \\ \hline \t...