Search Header Logo

ACCOUNTING PRINCIPLES & CONCEPT

Authored by SUJEET SAHU

Mathematics

11th - 12th Grade

Used 42+ times

ACCOUNTING PRINCIPLES & CONCEPT
AI

AI Actions

Add similar questions

Adjust reading levels

Convert to real-world scenario

Translate activity

More...

    Content View

    Student View

6 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

1. This concept assumes that, for accounting purposes, the business enterprise and its owners are two separate independent entities

Money Measurement Concept

Going Concern Concept

Business Entity Concept

Cost Concept

2.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

2. If all the business transactions are expressed in monetary terms, it will be easy to understand the accounts prepared by the business enterprise.

Business Entity Concept

Revenue Recognition Concept

Money Measurement Concept

Going Concern Concept

3.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

3. This concept states that a business firm will continue to carry on its activities for an indefinite period of time.

Business Entity Concept

Dual Aspect Concept

Money Measurement Concept

Going Concern Concept

4.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

4. It helps in calculating tax on business income calculated for a particular time period.

Accounting Period Concept

Dual Aspect Concept

Money Measurement Concept

Going Concern Concept

5.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

5. This concept requires asset to be shown at the price it has been acquired, which can be verified from the supporting documents.

Matching Concept

Historical Cost Concept

Accounting Period Concept

Going Concern Concept

6.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

6. It encourages the accountant to post each entry in opposite sides of two affected accounts

Matching Concept

Historical Cost Concept

Accounting Period Concept

Dual aspect Concept

Access all questions and much more by creating a free account

Create resources

Host any resource

Get auto-graded reports

Google

Continue with Google

Email

Continue with Email

Classlink

Continue with Classlink

Clever

Continue with Clever

or continue with

Microsoft

Microsoft

Apple

Apple

Others

Others

Already have an account?