The accounting convention that state that, stock sho...
The accounting convention that state that, stock should be value that the lower of cost and net realized value is --------------- convention
Marching
Consistency
Realization
Prudence
Correct answer is D
Prudence Concept or Conservatism principle is a key accounting principle which makes sure that assets and income are not overstated and provision is made for all known expenses and losses whether the amount is known for certain or just an estimation i.e expenses and liabilities are not understated in the books of account
A sale of goods to audu was not posted. This is an error of ...
Which of the following has the ultimate control of a company? ...
Use the following information to answer the given question \(\begin{array}{c|c} & N & &...
What was the bank balance at the end of the month? ...
The accounting method that reports incomes when earned and expenses when incurred is called? ...
Company as a legal entity means that it ...
UCHENNA ENTERPRISES: Balance sheet as at 31st December, 1993 \(\begin{array}{c|c} & N & N &a...
One of the options below is not the source of income for non- profit organization ...
An entry in a subsidiary book which does not form part of the double entry system is a ...