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प्रश्न
“Accounts should disclose all material information” (with reference to the concept of accounting). Justify either for or against by giving two reasons.
Accounts should disclose all material information. Give two reasons either for or against.
Justify the following statement either for or against by giving two reasons.
Accounts should disclose all material information,
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उत्तर
For:
Accounts should disclose all material information. The full disclosure principle requires it. Secondly accounts are true and fair when all material information is disclosed.
संबंधित प्रश्न
This principle suggests that every debit has a corresponding and equal credit.
According to this principle, cost of a particular period should be charged from the revenue of same period only.
Name the basic principles of accounting.
“Every transaction has two effects.” (with reference to the concept of Accounting). Give a reason either for or against.
"The capital provided by the owner is treated as a liability of the firm." Explain the concept on which the above depends.
"Every transaction affects at least three accounts." Comment.
"Accounting records serve as a source of information to the creditors of an organisation". Comment.
Explain the money measurement principle of accounting.
Explain any two basic concepts of accounting.
Explain the principle of consistency.
