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प्रश्न
The retirement of manager of the company cannot be recorded in the book of accounts, because it is not possible to estimate the financial effect of retirement. Which accounting principle would be applicable for the above statement?
विकल्प
The Going Concern Concept
The Business Entity Concept
Money Measurement Concept
The Dual Aspect Concept
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उत्तर
Money Measurement Concept
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संबंधित प्रश्न
Explain the need for GAAP for accounting.
This principle suggests that every debit has a corresponding and equal credit.
According to this principle, accounts should be prepared in such a way that all the material information required by users of financial statements is clearly disclosed.
What is business entity concept of accounting?
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.
Discuss in brief the basic principles of accounting.
"The capital provided by the owner is treated as a liability of the firm." Explain the concept on which the above depends.
Explain The Dual Aspect Principle.
Explain the principle of consistency.
