A trader purchases goods for Rs. 2500000, of these 70% of goods were seld during the year. As the end of 31st December 2009, the market value of such goods were Rs.500000. But the trader recorded in his books for Rs. 750000, Which of the following concept is vinlated? (a) Monzy measurement (b) Conservatism (c) Consistency (d) None of these
Q10) A trader purchases goods for Rs. 2500000, of these 70% of goods were seld during the year. As the end of 31st December 2009, the market value of such goods were Rs.500000. But the trader recorded in his books for Rs. 750000, Which of the following concept is vinlated?
(a) Monzy measurement
(b) Conservatism
(c) Consistency
(d) None of these
Q11)Which of the following is wrong?
(a) All real and personal accounts are transferred to balance sheet
(b) Nominal accounts are transferred to P & L account
(c) Each account is opened separately in ledger
(d) Rent is a personal account, outstanding rent is nominal account
12) is root cause for financial accounting
(a) Stewardship accounting
(b) Secul acomnting
( c)
(d) Human resource accounting
Step by step
Solved in 2 steps
