While putting the value or price of an entity in financial records the lowest price is recorded not the current price or current market value. This is known as [A] Business Entity Concept [B] Conservatism [C] Expenditure Concept [D] Money Measurment Concept

Q: naked debenture

A: Debentures which are not secured by specific assets is known as Naked debentures.

Q: What does it mean when there are claims on the economic resources

A: Economic resource refers to the factors that help in producing goods and services. The economic…

Q: how will a change from cash basis accounting to accural basis accounting positively and negatively…

A: Books of accounts can be maintained either using the cash basis accounting or using the accrual…

Q: Accounting: type question:, Which of the following items is not taken in profit and loss…

A: Profit and loss appropriation accounts show the distribution of profit and loss. It is prepared…

Q: What is the difference between income which is "realized" and income which is "recognized"?  Which…

A: Financial accounting requires to report all the income and expenses on the books and compute the…

Q: how would you recognize your company’s assets that were acquired with the intention of generating…

A: Balance sheet shows the financial position of the company. It shows the assets, liabilities, and…

Q: oncept of capital maintenan -defines the level of profitabil

A: Capital maintenance: It is an accounting principle that says that a business should recognize its…

Q: Explain the difference between capital expenditure and revenue expenditure, and how each type of…

A: Capital expenditure is an expense which is made to purchase an asset or to increase the capacity of…

Q: Which of the following is not considered in the determination of Total Assets after business…

A: In business combination , following are considered for determination of total assets : 1. Fair…

Q: You find capital in the same side of the balance sheet as liabilites because of ______________.…

A: From the business point of view, capital is also considered as a liability towards the owner…

Q: The following definition pertains to which accounting principle or convention: Transactions and…

A: A business is established to earn profit. The business incurs various expenses to earn profit. The…

Q: Identify which one of the following term is falling under the meaning of wealth maximization: a.…

A: Option Explanation a The government's Wealth is the wealth accrued to Government. b…

Q: The selection of the appropriate concept of capital by an entity should be based on the needs of the…

A:

Q: Explain how accounting activities are different from financing activities by providing real-life…

A: Accounting is the practice of preparing accounting records, including measuring, preparation,…

Q: That a business may only report activities on financial statements that are specifically related…

A: Accounting concepts are those rules and regulations which are used for the purpose of accounting and…

Q: What is the impact of deferred annuities in consideration to business matter?

A: The legal contract between any entity and an insurance company is a deferred annuity contract. The…

Q: According to IAS 39 Financial Instruments: Recognition and Measurement, at what amount should a…

A: IAS 39 is an Indian accounting standard which is related with the recognition and measurement of the…

Q: Explain why firms must correctly classify expenditures incurred as either capital expenditure or…

A: Capital expenditure is something which has been incurred on something that will provide benefits for…

Q: What are the accounting items corresponding to additions to wealth for shareholders, lenders and the…

A: The objective of the question is to identify the accounting items that correspond to the increase in…

Q: What is ascertained from the income and expense of an entity?

A: Profit and Loss is the difference between income or expense.  If income is more than the expense, it…

Q: When we look at GAAP are corporations required by GAAP to have an accrual or cash basis of…

A: According to Generally Accepted Accounting Principles (GAAP), corporations are required to use the…

Q: Discuss how Floating and Fixed debentures affects the profitability of a business?

A: In floating debentures the interest rate of such debentures change will the level of changes... Such…

Q: 4. Amsyari Enterprise bought the secondhand motor vehicles for RM40,000. He incurred a major…

A: Hello. Since your question has multiple parts, we will solve the first question for you. If you want…

Q: Will the decision about the transfer price affect consolidated net income? Which method would be…

A: Transfer price is the price at which one division tansfers a product to another division within the…

Q: If a company operates at loss, it that accural accounting or cash basis accounting?

A: Accrued expenses means the expenses which has been due but not paid. As per accrual system of…

Q: How shall an entity subsequently measure financial liabilities?  Is IFRS measurement of financial…

A: Financial liabilities can be measured at amortized cost by using effective interest method and it…

Q: While putting the value or price of an entity in financial records the lowest price is recorded not…

A: Accounting is the process of recording financial transactions (which can be measured in terms of…

Q: Which are segments are reportable segments?  Is there a sufficient number of reportable segments…

A: As per US GAAP, a segment should pass the following test to become a reporting segment: -(1) 10%…

Q: Explain briefly the purpose of Valuation

A: Introduction:- The Companies (Registered Valuers and Valuation) Rules, require registered valuers to…