The prudence concept demands that
Care is exercised in recognition of profit
Loss should be anticipated
Profit should be reported
Income should be recognized and disclosed
Correct answer is A
No explanation has been provided for this answer.
Materiality
Periodicity
Objectivity
Conservatism
Correct answer is C
No explanation has been provided for this answer.
Materiality
Periodicity
Objectivity
Conservatism
Correct answer is C
No explanation has been provided for this answer.
Account payable is classified as a
Prepayment
Provision
Current liability
Long term liability
Correct answer is C
No explanation has been provided for this answer.
The accounts of Jute Enterprise in the books of a supplier will be a
Nominal account in the general ledger
Personal account in the sales ledger
Personal account in the purchases ledger
Real account in the general ledger
Correct answer is B
No explanation has been provided for this answer.