Rs. 2,400 Rs. 2,600 Rs. 2,200 Rs. 1,800 Answer 4. Rs. 1,800
Contingent liability is shown owing to :
Convention of conservatism Convention of materiality Convention of full disclosure Dual aspects concept Answer 3. Convention of full disclosure
Which is the accounting concept that requires the practice of crediting closing stock to the Trading Account?
Going concern Cost Realisation Matching Answer 4. Matching
Expenditure incurred as the inauguration of a new factory building is :
Revenue Expenditure Capital Expenditure Prepaid Expenditure Contingent Expenditure Answer 1. Revenue Expenditure
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