Provision for doubtful debts is made in conformity with
Provision for doubtful debts is made in conformity with
Business entity concept
Money measurement concept
Prudence concept
Materiality concept
Correct answer is C
Prudence also known as conservatism. The principles states that the accountant should not be anticipate income and will normally take figure that will understate rather than overstate the profit.
Industry ltd, issued 100,000 shares at ₦1 each out of its Authorized share capital of ₦200,000 a...
Departmentalization of accounts is useful because it shows the? ...
Use the following information to answer the question given \(\begin{array}{c|c} \text{Jan. 1} &...
The excess of current assets over current liabilities is ...
Which of the following is not an Appropriation account item for a company? ...