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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.
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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.
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संबंधित प्रश्न
Explain the Business Entity Concept.
Explain the Money Measurement Concept.
______ is the language of business.
What is meant by going concern concept of Accounting.
With reference to the concept of accounting only those transactions are recorded in accounts which can be expressed in terms of money. Justify either for or against.
The capital provided by the owner is a liability of the firm. Answer with reference to the concept of Accounting.
"The capital provided by the owner is treated as a liability of the firm." Explain the concept on which the above depends.
"Fixed assets should be valued at the market price." Comment.
Explain the money measurement principle of accounting.
Explain the complete disclosure principle.
